There is not a no-CD hack yet, that I know of. I have no idea if any CD-ROM emulator programs can fool the copy protection. Depending on how much you use your CD-ROM, you might want to consider getting a DVD drive (just about as cheap as CD-ROM drives) to replace / supplement it. Slower drives tend to be quieter, as well as cheaper.
I know there are sound proofing materials for computers, as well as various methods to reduce vibration between drives and the case, but don't have any experience with them.
