I've used symbolic links many times. It generally works without a hitch, although a few apps have caused me grief. One in particular, I moved the folder I wanted on my encrypted drive and put a symbolic link back to the original source, works a treat. However, whenever I update it I guess the installation actually deletes the folder I am linking to (actually the link because it does not seem to know any better) and breaks there goes my fix, I have to create the link all over again. So, be sure to check your links to make sure they are still valid.

Links are easy to create from the command line, easier with a GUI. Google up HardLink Shell Extension, it makes creating links as easy as drag and drop.