Fantom CD is a program for reading CDs and running CD programs without a CD by creating a virtual CD-ROM drive on the hard disk using software methods. This emulator allows you to run CD-ROM applications from your hard drive or network server. In your hard drive space, you can establish and access up to 31 different virtual CD-ROM drives.
More info:
hxxp://www.copystar.com.tw/Php/Main.php3?P_ID=FANTOMCD

Do not even consider this software right now, the lead programmer and a couple of others have left the company and formed a new company called alcohol, and now develop new software called alcohol, there is presently no real support for fantom...