I normally use the free edition of Alcohol here but now that I'm trying to play some older games that use CD audio I notice that the games can't play the CD audio tracks from a mounted image. Windows Media Player etc can, but not the games.
They will play fine from the original CD but I'd prefer to use an image if I can.
Try to change the virtual drive letter to the first one available after the last HDD drive. For example, when you have a HDD C:\, an optical drive D:\ and a virtual drive E:\, change the virtual drive letter to D:\.