I DIDN'T MAKE THIS. The author (Keith) designed this in 2001, and then edited it during 2004. It's extremely convenient, and drove me crazy that I couldn't ever find it here.

He comments in the script with the following:

# root-nautilus-here
# opens a root-enabled instance of a nautilus window in selected location
# requires sudo priviledges and gksudo, which may involve security risks.
#Install in your ~/Nautilus/scripts directory.
#
# Placed in the public domain by Shane T. Mueller 2001
# Fixes provided by Doug Nordwall
#
# 2004.04.18 -- keith@penguingurus.com - Added gksudo usage to provide popup
# password window if sudo has expired. Line only echos got
# root to std output. But gksudo updates your sudo access
# privs, so running nautilus with sudo will succeed
# without asking for a password.

INSTALLATION:

Toss this puppy into here:
/home/[username]/.gnome2/nautilus-scripts

Right click, permissions, allow executing as program.

Ta-da! Right click glory. (yeah, you can chmod +x the file to do the same thing, but noobs need more love. MORE I say.)