> drive letters are essentially just a convention borne out of the conversion of a Win32 path into a NT path
CMD also has the concept of a current drive, and of a per-drive current directory. (While “X:\” references the root directory of drive X, “X:” references whatever the current directory of drive X is. And the current directory, i.e. “.”, is the current directory of the current drive.) I wonder how those mesh with non-standard drive letters.
That would only interact with the shell, as `%` is not actually part of the environment variable name, it's just a way to tell the shell you want it to get the value of an environment variable. The environment block itself is a NULL terminated list of NULL terminated WTF-16 strings of the format <key>=<value>, so `=` would be the more interesting thing to try.
And indeed, it looks like using `=` as a drive letter breaks things in an interesting way:
=:\> cd bar
Not enough memory resources are available to process this command.
=:\bar>
With a program that dumps the NULL terminated <key>=<value> lines of the environment block, it looks like it does still modify the environment, but in an unexpected way:
Before `cd /D =:\`, I had a line that looked like this (i.e. the per-drive CWD for C:\ was C:\foo):
=C:=C:\foo
=C:==:\
=:\foo> cd /D C:
=:\>
You might also be interested to know that '= in the name of an environment variable' is a more general edge case that is handled inconsistently on more than just Windows: https://github.com/ziglang/zig/issues/23331
They work just fine, as the drive-specific CWD is stored in the environment as a normally-hidden =<drive-letter>: environment variable which has all the same WTF-16 and case-insensitive properties as drive letters: