Been out of town...
Just spent the day testing my technique, and will detail what I found. It may be of use.
To be clear, what I am trying to do is to create a CD image that has a set of shortcuts that will be visible when the user first opens the CD-ROM and which will run various programs that are buried in a folder/subfolder structure on the CD. The shortcuts need to work regardless of what drive the CD is in.
What I've done:
1) Format a CD-RW as a DirectCD disk using Roxio's software. This then creates a virtual hard drive where one can write and delete files in real time, just like a hard drive.
2) I copy all of the software (folders/subfolders) onto this CD-RW which is in Drive E:\.
3) I then use the Windows shortcut Wizard to create shortcuts directly on the CD-RW. These shortcuts have E:\ in both the Target and Starting parameters.
4) I then place the completed CD-RW disk in my D: drive which is a simple CD-ROM reader.
5) I place black CD-R in the E: drive and using Roxio's EasyCD Creator I basically copy the CD-RW onto the CD-R and burn it.
6) I can now place the CD-R in EITHER drive (D: or E

and under WinXP the shortcuts work fine. (Also tried a drive G: on another machine). Checked this on several XP machines.
7) On a Win-Me machine, clicking the shortcut brings up a dialog box saying that the file in question is not on any drive, BUT if I click OK the programs then run.
8) While I need to double check this, I think the shortcuts work on both Win95 and Win98 machines.
HOWEVER.................
The above procedure was done on my home XP machine. I tried it on my office XP machine and had some anomalies. FIRST the Shortcut Wizard would not recognize anything beyond the first folder on the CD-RW as I was trying to create shortcuts. I could manually put in the rest of the path and the shortcuts were written.
All the shortcuts created this way seem to work, independent of the drive letter of the machine used, under WinXP. BUT...the shortcuts written on the office machine DID NOT work on Win95 and Win98 machines....although I had a couple of shortcuts that had been written on my home machine in this mix and they WORKED!
It also seems that you CAN create a CD image on the hard drive (from the CD-RW) to use for burning the CD-R (that option is built in Roxio...and I had to use it because the office machine has only one CD drive.)
Anyway....It looks like I can do what I want, but am not at all sure that the procedure here is general. I have no explanation for why my home machine and office machines seem to create different shortcuts--ones that work universally in XP but work in other Windows versions only if from my home machine.
FWIW
rwt