Windows 7 and Vista have a feature of ad-hoc network connection, which means you can share your wired internet connection to other devices if your PC is Wireless enabled. We had written about Connectify tool which does this task. mHotspot is another freeware tool for Windows which can turn your Internet connection into a Wifi hotspot in two steps. The tool is very simple and easy to use.
Run the tool in administrator mode in Windows 7 and then click on Setup Hotspot. Enter the name and specify a password. Once it is created, you can click the start button and Wifi hotspot will be enabled on your PC.
Any number of devices including laptops, desktops, mobile phones etc can be connected to the created virtual hotspot.
mHotspot is a simple and freeware tool which does the job neatly and easily.
I use virtualwifirouter its best and free with lot more features and ist Just 1 MB where as mhotspot is 5MB and looks like Junk.
http://www.virtualwifirouter.com/