If anyone cares I still have the files for this. It was never reliable enough to really sell.
It is interesting because it simulates the actual signals from the optical block. Most of the products out there simulate the drive itself - responding to logical commands from the CPU with the correct data, straight from a filesystem image.
My code here simulates the disk itself, and the drive is still the one talking to the CPU. The upside is, it's always straightforward to install, and has no software hassles. The downside is, it can't perform any better than a real disc, and can perform worse for lots of reasons.
I've always wondered if I could package it up in the shape of a CD, like those cassette-tape adapters do for car stereos.