When I installed the latest release of TrueCrypt, TrueCrypt 7; I was very happy to see this prompt on a system without a CD/DVD drive: 
(previously TrueCrypt would stop you from formatting.)
Related posts:
Bypassing the TrueCrypt Rescue Disk check requirement.
TrueCrypt – not as secure as I thought.
TrueCrypt and “Can’t come out of hibernation”
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