A CD? I don't know if that's possible since a lot of games today use up way more then 700 MB uncompressed on your hard drive. I've had success taking a copy of one of my games and placing it on a DVD along with a No CD patch so it wouldn't bug me for the play disc. You might be able to do this with 99% of the games you'll find, but I know there are a few that No CD patches don't exist for. If you need to find the patches so you can play it without the original play disc, goto www.gamecopyworld.com
The only problem with the method I described is that some games like SW KoTOR2, mainly because some save stuff to their original directory like KoTOR2 does.