This instructible explains how to use MagicDisc
Step 2: Install MagicDisc
Open the setup_magicdisc.exe file you downloaded
Step 3: Open MagicDisc
After installation an icon should pop up on the desktop, click that and a the same icon should pop up in the icon tray in the bottom right-hand corner. Right click that and select Virtual CD/DVD-ROM > E = No media > Mount image, Then select the file you wish to mount as the CD image (preferably ISO), and open.
Step 4: Play or Install Your Game
Autoplay should open the File you mounted, allowing you to play the game. ENJOY!!