Is there something similar to the Python utility virtualenv?
Basically it allows you to install Python packages into a sandboxed environment, so easy_install d
I'll mention the way I do this with Bundler (which I use with RVM - RVM to manage the rubies and a default set of global gems, Bundler to handle project specific gems)
bundler install --binstubs --path vendor
Running this command in the root of a project will install the gems listed from your Gemfile, put the libs in ./vendor, and any executables in ./bin and all requires (if you use bundle console or the Bundler requires) will reference these exes and libs.
Works for me.