I did it both for the drive and the top level folder itself. The end result is the same. When I click on the top level folder I am told that I have been denied access to this folder. Clicking into the security tab, there is no way for me to change security.
I found the problem. Just Microsoft once again mistakenly thinking they can write operating systems.
"You receive a Windows 7 access denied error when accessing a folder through Windows Explorer even though you have set the permissions correctly. You are an administrator and the administrators groups have full control over the folder but you can’t access it without Windows re-writing the permissions.
The cause of this is because of a new feature in Windows 7 called User Access Control (UAC). It is the combination of UAC and a bug in Windows Explorer that causes the access denied error.
From the link, it appears to be 64 bit specific bug and "ONLY affects the Administrators group". I have multiple systems for different purposes and upgrade for one reason or another fairly frequently. I've never run into this before.
Having been a Unix admin, once upon a time, and having worked on the Mach microkernel, this kind of issue tends to send me into an anti-MS rant. Of course, then I settle back down into MS because that's where all my tools operate. Sigh.