MagicDisc is freeware. It is very helpful utility designed for creating and managing virtual CD drives and CD/DVD discs.

All supported CD/DVD image formats
BIN (CDRWin)
IMA/IMG (Generic disk images)
CIF (Easy CD Creator)
NRG (Nero - Burning ROM)
IMG/CCD (CloneCD)
MDF/MDS (Fantom CD)
VCD (Farstone Virtual Drive)
VaporCD (Noum Vapor CDROM)
P01/MD1/XA (Gear)
VC4/000 (Virtual CD)
VDI (Virtuo CD Manager)
C2D (WinOnCD)
BWI/BWT (BlinkWrite)
CDI (DiscJuggler)
TAO/DAO (Duplicator)
PDI (Instant Copy)