[Windows Phone 7 Development and Hacking] HD2Owner:
[HKEY_LOCAL_MACHINE\System\StorageManager\RAWFS]
"Dll"="[COLOR="Red"]rawfs.dll[/COLOR]"
[HKEY_LOCAL_MACHINE\System\StorageManager\RAMIMAGE]
"FriendlyName"="Kernel File System"
"Dll"="[COLOR="Red"]rawfs.dll[/COLOR]"
"Folder"="NK"
[HKEY_LOCAL_MACHINE\System\StorageManager\ROMIMAGE]
"FriendlyName"="Kernel File System"
"Dll"="[COLOR="Red"]rawfs.dll[/COLOR]"
"Folder"="NK"
[HKEY_LOCAL_MACHINE\System\StorageManager\BOOT]
"FriendlyName"="Uldr Boot FileSystem"
"Dll"="[COLOR="Red"]rawfs.dll[/COLOR]"
"Folder"="ULDR"

maybe we need to take a closer look at rawfs.dll....

rawfs.dll:

....................................ðª‚f........"...X...°...V.O.L.:.....*...*...*.......
R.A.W.F.S.!.F.S.D._.M.o.u.n.t.D.i.s.k. .-. .m.o.u.n.t.e.d. .v.o.l.u.m.e. .".\.%.s."
. .c.o.n.t.a.i.n.i.n.g. .f.i.l.e. .".%.s.". .(.%.u. .b.y.t.e.s.).........R.A.W...F.i.l.e.N
.a.m.e.....R.A.W.F.S...F.o.l.d.e.r.........R.A.W.F.S.!.[COLOR="Red"]F.S.D._.
M.o.u.n.t.D.i.s.k.:. .t.h.e. .v.o.l.u.m.e. .c.o.n.t.a.i.n.s. .c.o.m.p.r.e.s.s.e.d. .d.a.t.a.![/COLOR]
.......o.u.t. .o.f. .m.e.m.o.r.y.......F.S.D.M.G.R._.G.e.t.D.i.s.k.I.n.f.o. .c.a.l.l. .f.a.i.l.e.d

........RAWFS.dll.FSD_CloseFile.FSD_CreateFileW.FSD_DeviceIoControl.FSD_
FindClose.FSD_FindFirstFileW.FSD_FindNextFileW.FSD_FlushFileBuffers.FSD_
GetDiskFreeSpaceW.FSD_GetFileAttributesW.FSD_GetFileInformationByHandle.FSD_
GetFileSize.FSD_GetFileTime.FSD_MountDisk.FSD_Notify.FSD_ReadFile.FSD_
ReadFileWithSeek.FSD_SetFilePointer.FSD_UnmountDisk.FSD_WriteFile.FSD_WriteFileWithSeek.

this is the reg from the x86 emulator msxip rgu:

REGEDIT4
[HKEY_LOCAL_MACHINE\System\ObjectStore]
"DefaultDBVol"="Windows\\Registry\\default.vol"
[HKEY_LOCAL_MACHINE\System\ObjectStore]
"RegistryType"=dword:1
[HKEY_LOCAL_MACHINE\System\StorageManager]
"Dll"="fsdmgr.dll"
"PNPUnloadDelay"=dword:1000
[HKEY_LOCAL_MACHINE\System\StorageManager\FATFS]
"FriendlyName"="FAT FileSystem"
"Dll"="exfat.dll"
"DisableAutoFormat"=dword:1
"DisableAutoScan"=dword:1
"Paging"=dword:1
"EnableCache"=dword:1
"CacheSize"=dword:0
"Util"="fatutil.dll"
"CacheDll"="diskcache.dll"
"LowStorageThreshold"=dword:A
[HKEY_LOCAL_MACHINE\System\StorageManager\EXFAT]
"FriendlyName"="exFAT FileSystem"
"Dll"="exfat.dll"
"DisableAutoFormat"=dword:1
"DisableAutoScan"=dword:1
"Paging"=dword:1
"EnableCache"=dword:1
"CacheSize"=dword:0
"Util"="fatutil.dll"
"CacheDll"="diskcache.dll"
"FormatExfat"=dword:1
"LowStorageThreshold"=dword:A
[HKEY_LOCAL_MACHINE\System\StorageManager\FATFS\Filters\CacheFilt]
"Dll"="cachefilt.dll"
"Order"=dword:68000000
"LockIOBuffers"=dword:1
[HKEY_LOCAL_MACHINE\System\StorageManager\EXFAT\Filters\CacheFilt]
"Dll"="cachefilt.dll"
"Order"=dword:68000000
"LockIOBuffers"=dword:1
[HKEY_LOCAL_MACHINE\System\StorageManager\IMGFS]
"FriendlyName"="Image-Update Filesystem"
"Dll"="imgfs.dll"
"Paging"=dword:1
"LockIOBuffers"=dword:0
"ShadowROM"=dword:1
"CacheDll"="diskcache.dll"
"CacheSize"=dword:20000 ; 128KB sector cache
[HKEY_LOCAL_MACHINE\System\StorageManager\MSPART]
"Dll"="mspart.dll"
[HKEY_LOCAL_MACHINE\System\StorageManager\WMPART]
"Dll"="wmpart.dll"
"Granularity"=dword:1
"MaxPartitions"=dword:10
"TableStart"=dword:1
[HKEY_LOCAL_MACHINE\System\StorageManager\Profiles\RAMDisk]
"AutoPart"=dword:1
"AutoFormat"=dword:1
"PartitionDriverName"="MSPART"
[HKEY_LOCAL_MACHINE\Drivers\BlockDevice\RAMDisk]
"Dll"="ramdisk.dll"
"Prefix"="DSK"
"FriendlyName"="RAM Disk Driver"
"Order"=dword:0
"Ioctl"=dword:4
"IClass"=multi_sz:"{A4E7EDDA-E575-4252-9D6B-4195D48BB865}"
"Profile"="RAMDisk"
[HKEY_LOCAL_MACHINE\System\StorageManager\Profiles\UniBlk]
"AutoPart"=dword:1
"AutoFormat"=dword:1
"AutoPartType"=dword:2
"PartitionDriverName"="MSPART"
[HKEY_LOCAL_MACHINE\Drivers\BlockDevice\UniBlk]
"Dll"="unifiedblock.dll"
"Profile"="UniBlk"
"PairChangeProfile"="TmpBlk"
"Prefix"="DSK"
"IClass"=multi_sz:"{A4E7EDDA-E575-4252-9D6B-4195D48BB865}",
"{8DD679CE-8AB4-43c8-A14A-EA4963FAA715}"
"RamdiskDeviceKey"="Drivers\\BlockDevice\\RAMDisk"
"PairChangeApp"="FailedStorageUI.exe"
[HKEY_LOCAL_MACHINE\System\StorageManager\Profiles\UniBlk\FATFS]
"MountAsBootable"=dword:1
"MountAsRoot"=dword:1
"FormatTfat"=dword:1
"CheckForFormat"=dword:1
[HKEY_LOCAL_MACHINE\System\StorageManager\Profiles\TmpBlk]
"AutoPartType"=dword:4
"PartitionDriverName"="MSPART"
[HKEY_LOCAL_MACHINE\Drivers\BlockDevice\RAMDisk]
"Size"=dword:1000000
[HKEY_LOCAL_MACHINE\System\StorageManager\Profiles\RAMDisk]
"AutoPart"=dword:1
"AutoFormat"=dword:1
"AutoPartType"=dword:2
"PartitionDriverName"="MSPART"
[HKEY_LOCAL_MACHINE\System\StorageManager\Profiles\RAMDisk\FATFS]
"MountAsBootable"=dword:1
"MountAsRoot"=dword:1
"FormatTfat"=dword:1
[HKEY_LOCAL_MACHINE\nls]
"DefaultLCID" = dword:0409
[HKEY_LOCAL_MACHINE\MUI]
"Enable"=dword:1
[HKEY_LOCAL_MACHINE\MUI]
"SysLang"=dword:0409
[HKEY_CURRENT_USER\MUI]
"CurLang"=dword:0409
[HKEY_LOCAL_MACHINE\System\StorageManager\RAWFS]
"Dll"="rawfs.dll"
[HKEY_LOCAL_MACHINE\System\StorageManager\RAMIMAGE]
"FriendlyName"="Kernel File System"
"Dll"="rawfs.dll"
"Folder"="NK"
[HKEY_LOCAL_MACHINE\System\StorageManager\ROMIMAGE]
"FriendlyName"="Kernel File System"
"Dll"="rawfs.dll"
"Folder"="NK"
[HKEY_LOCAL_MACHINE\System\StorageManager\BOOT]
"FriendlyName"="Uldr Boot FileSystem"
"Dll"="rawfs.dll"
"Folder"="ULDR"
[HKEY_LOCAL_MACHINE\Platform]
"SoftRTC"=dword:1

this is the according hd2 boot.rgu part for comparison:

[HKEY_LOCAL_MACHINE\System\ObjectStore]
"DefaultDBVol"="Documents and Settings\\default.vol"
[HKEY_LOCAL_MACHINE\System\ObjectStore]
"AllowSystemAccess"=dword:1
[HKEY_LOCAL_MACHINE\System\StorageManager\Filters\fsreplxfilt]
"ReplStoreHostVolume"=""
"ReplStorePath"="\\ReplStorVol"
"ReplStoreName"="ReplStor"
"ReplStoreDoImmaculate"=dword:0
"ReplStoreCacheSize"=dword:0
"NumDirsToExclude"=dword:0
"DirsToExclude"=multi_sz:""
[HKEY_LOCAL_MACHINE\System\ObjectStore]
"RegistryType"=dword:1
[HKEY_LOCAL_MACHINE\System\StorageManager]
"Dll"="fsdmgr.dll"
"PNPUnloadDelay"=dword:1000
[HKEY_LOCAL_MACHINE\System\StorageManager\FATFS]
"FriendlyName"="FAT FileSystem"
"Dll"="fatfsd.dll"
"Flags"=dword:00000064
"Paging"=dword:1
"EnableCache"=dword:1
"CacheSize"=dword:0
"Util"="fatutil.dll"
"CacheDll"="diskcache.dll"
[HKEY_LOCAL_MACHINE\System\StorageManager\FATFS\Filters\CacheFilt]
"Dll"="CacheFilt.dll"
"Order"=dword:2
[HKEY_LOCAL_MACHINE\System\StorageManager\UDFS]
"FriendlyName"="CDFS/UDFS FileSystem"
"Dll"="udfs.dll"
"Paging"=dword:1
[HKEY_LOCAL_MACHINE\System\StorageManager\IMGFS]
"FriendlyName"="Image-Update Filesystem"
"Dll"="imgfs.dll"
"Paging"=dword:1
"ShadowROM"=dword:1
[HKEY_LOCAL_MACHINE\System\ImageUpdate\UpdateApp]
"InputFileName"="UAInput.000"
"OutputFileName"="UAOutput.000"
"PersistentRoot"="\\OSRoot"
"PersistentTempName"="UATemp"
"RAMTempDir"="\\UATemp"
"DisplayDLL"="uldrui.dll"
"ValidatorLogPath"="\\Release\\UpdateValidator.log"
"UpdateAppLogPath"="\\OSRoot\\UpdateApp.log"
"UpdateSettingsDir"="IUSettingsBackup"
[HKEY_LOCAL_MACHINE\System\StorageManager\MSPART]
"Dll"="mspart.dll"
[HKEY_LOCAL_MACHINE\System\StorageManager\Profiles]
"AutoMount"=dword:1
"AutoPart"=dword:0
"AutoFormat"=dword:0
"MountFlags"=dword:0
"DefaultFileSystem"=""
"PartitionDriverName"="MSPART"
"Folder"="Mounted Volume"
[HKEY_LOCAL_MACHINE\System\StorageManager\PartitionTable]
"01"="FATFS"
"04"="FATFS"
"06"="FATFS"
"07"="NTFS"
"0B"="FATFS"
"0C"="FATFS"
"0E"="FATFS"
"0F"="FATFS"
"20"="BOOT"
"21"="BINFS"
"22"="RAWFS"
"23"="RAWFS"
"25"="IMGFS"
"26"="BINARY"
[HKEY_LOCAL_MACHINE\System\StorageManager\Profiles\HDProfile]
"Name"="IDE Hard Disk Drive"
"Folder"="Hard Disk"
[HKEY_LOCAL_MACHINE\System\StorageManager\Profiles\HDProfile\FATFS]
"EnableCacheWarm"=dword:0
[HKEY_LOCAL_MACHINE\System\StorageManager\Profiles\CDProfile]
"Name"="IDE CDROM/DVD Drive"
"Folder"="CDROM Drive"
"DefaultFileSystem"="UDFS"
"PartitionDriver"=""
[HKEY_LOCAL_MACHINE\System\StorageManager\Profiles\CDProfile\PartitionTable]
[HKEY_LOCAL_MACHINE\SYSTEM\Events]
"SYSTEM/WZCApiSetReady"="Event triggered after WZC is ready to accept and process API calls"
[HKEY_LOCAL_MACHINE\Comm\Security\SystemCertificates\Root]
"InitFile"="\\windows\\sysroots.p7b"
[HKEY_LOCAL_MACHINE\System\Events]
"LASS_SRV_STARTED"="LASS APIs ready"
[HKEY_LOCAL_MACHINE\nls]
"LegacyLocaleMode"=dword:1
[HKEY_LOCAL_MACHINE\System\StorageManager\Filters\fsdspy]
"dll"="fsdspy.dll"
[HKEY_LOCAL_MACHINE\System\StorageManager\Filters\fsreplxfilt]
"NumDirsToExclude"=dword:f
"DirsToExclude"=multi_sz: "\\mxip_initdb.vol",
"\\mxip_system.vol",
"\\mxip_notify.vol",
"\\mxip_lang.vol",
"\\cemail.vol",
"\\pim.vol",
"\\Documents and Settings\\default\\user.hv",
"\\Documents and Settings\\system.hv",
"\\Windows\\Profiles\\guest\\Temporary Internet Files\\",
"\\Windows\\Profiles\\guest\\Cookies\\",
"\\Windows\\Profiles\\guest\\History\\",
"\\Windows\\Activesync\\",
"\\windows\\messaging\\",
"\\Temp\\",
"\\Windows\\System\\PushRouter\\clientqueues.vol"

the x86 emulator msxip is attached for investigations.