yes. Exactly as you just mentioned. You must be a Domain Admin or security adminstrator to be able to access this admin share if I recall. I'm not really to sure on that aspect, but perhaps someone can clarify. I am a network administrator with endless domain/network security previleges.
You simply go to START>RUN then type in the machine name and the C$ to access this admin share which gives your full access to the C drive. SO:
\\pcname\c$
OR
\\pcname\admin$
The admin$ will take you to the system root folder. The dollar sign $ represents a hidden share.