Unfortunately, no. Very unlikely anyway. When you install software from a CD, it writes various files to various places and does not copy all of the CD's contents. You might have 650mb of files on CD, but the program might only copy two thirds of that and some of those will be zip or cabinet files that are compressed while on CD. It will use most or all of the files on CD during the install process, however.
Basically, you need all the data on the CD to install the program, and just copying program folders/files to their equivalent locations would change nothing in the registry or DLL folders. It just would not work.