Adam --
If you are using Easy CD or CD Direct or something like that from Adaptec (Don't have it on my machine to check.) then you can drag and drop. It should give you the choice when you insert the CD. The software should have come with your drive. I'm not at a machine to check this at the moment.
Assuming the above then you can go ahead. If you want to automate this we have a chapter in our book on doing just that. We talk of two hard drives but the CD drive would work just as well. (Sorry for the shameless plug)
-- Dan Butler
The Naked PC
The Book That Should Have Come With Your Computer...