Best product for optical media emulation. All DAEMON Tools features are now available in one solution - DAEMON Tools Pro Advanced.
Key features

Functionality
- Mount *.mdx, *.mds/*.mdf, *.iso, *.b5t, *.b6t, *.bwt, *.ccd, *.cdi, *.bin/*.cue, *.ape/*.cue, *.flac/*.cue, *.nrg, *.isz disc images to a virtual drive together with *.vhd, *.vmdk, TrueCrypt and ZIP files
- Convert images from all supported formats to *.mdf/*.mds, *.mdx, *.iso
- Make *.iso, *.mds/*.mdf and *.mdx images of CD, DVD, Blu-ray discs
- Make a compressed disc image or split the image to several files
- Create VHD images with dynamically expanding or fixed size
- Make TrueCrypt images to save the most important data or protect images with password

Advanced imaging features
- Mount images with double click or adjust selected virtual device before mounting
- Create or edit images with powerful Image Editor
- Burn created images to media discs
- Burn images with RMPS data
- Compose your own images of selected type (CD/DVD disc) with preferred file system (ISO9660+Joliet, UDF)
- Master bootable discs or images
- Manage your Image Collection

Media devices virtualization
- Emulate up to 32 DT and SCSI devices in all
- Use 4 virtual IDE devices (2 in Windows
- Create up to 16 virtual HDD devices
- Mount images to physical IDE/SATA devices via advanced attaching functionality
- Perform image mounting to local NTFS folders
- Get detailed information about physical and virtual devices' properties
- Customize virtual drives: change a drive letter, DVD region, etc

Advanced user interface with powerful system integration
- Customize user Interface for main application and Image Editor
- Use powerful Command Line Interface for automation purposes
- Enable DAEMON Tools integration to Windows shell
- Use File Associations to mount images right from Windows Explorer or any other file manager
- Customize Windows Explorer context menu for images and virtual devices
- Get quick access to your Image Catalog via Windows Explorer
- Perform basic actions via handy DAEMON Tools Gadget on Windows Desktop

GameSpace - virtual disc usage statistic on-line service
- Get more information relevant to discs in your Image Collection
- Stay tuned: read game news and reviews posted daily
- Browse for gameplay videos, screenshots and recommendations
- Find out top rated and most played games
- Search disc images and much more