mod_rewrite can do that same trick without the symlink hack and multiple levels. In fact, under Set Environment Variables According To URL Parts at the mod_rewrite guide, you'll see an example of how to extract a portion of the URL and insert it into a known ENV variable.
Something similar can be done with mod_perl and a PerlTransHandler. mod_perl Developer's Cookbook
(ISBN 0672322404; almost got that memorized :), recipie
12.3.