Turning on Bitlocker has been on my TODO list for quite some time now, but to me the real value of Truecrypt wasn't full disk encryption, it was having encrypted volumes and mounting them on a as-needed basis. And how do I handle sensitive stuff wrt backups? I could burn a Truecrypt volume to a DVD or Blu-ray. I cannot do this in any way with Bitlocker, can I?
The paged linked in the post explains how to create a VHD file, mount it using windows disk management, and then encrypt it using bitlocker. It supports dynamically expanding disks as well as fixed size disks that can be manually grown and volumes extended at a later date.
Using this method you can easily burn or transfer your VHDs, you can also store VHDs inside of VHDs.