Thanks

I suggest to Rip the CD or Copy the files to a different folder if you don't want to work on the originals (use right click > Find More from Same > Folder (Explorer) to find originals) as Virtual CD will be discontinued in MediaMonkey 5. Tools > Options > Virtual CD & Preview has the setting as to where Virtual CD files are stored.

Where do I find the virtual cd once created from playlist "Send To"?
I would like to create a virtual CD that I can then import into Audacity for editing.
Is there a better way to do that?