I much prefer compatibility symlinks actually existing in the file system over some complex, hidden pathname resolution override riles lurking in the kernel. That way, Windows lies.
Windows implements many overrides (e.g. "My Documents") as NTFS junctions with some hidden (+ system?) property set. (Sometimes you will find a proper hidden property handy, like in this case.)
Stuff like CON, NUL in non-UNC paths do hurt, though. Device files from an age without directories....