Welcome to PCGuide!
Have you tried removing the CDs driver software and reinstalling. That is probably what I would try to do at this point. You go to Device Manager, click on the CD entry and then click Remove. Reboot and windows should detect the drive and attempt to install. Have the driver software handy and instruct Windows to find and install it. If this doesn't work, post back here with details about what happened.
Oh, another thought. You may want to use Task Manager to see if you have anything running that might somehow interfere with your CD. If needed, you can use msconfig to selectively cancel out programs and see if the system runs better without them. Let us know if you need help to do that.