@Ken welcome to the forum!
In order for a CD to run with emulation software you first need to make an image copy of the CD. Then mount the image to a virtual disk drive via one of the programs you have installed on your HHD.
I hope this makes sense!!
I do not have any emulation software installed so I cannot comment on the content of their help manuals. However, the following links should help you further:
http://arainia.com/software/gizmo/forum.html
http://www.magiciso.com/tutorials/tutorials.htm
http://www.magiciso.com/howto/howto.htm