There is probably some wording about reverse engineering in the license you agreed to with the retail copy so I'd advise against that. Likely illegal or a copyright infringement plus it forces you to have the disk and not "share" a copy with a friend. Do publishers a favour and don't try to hack their work. If they don't get a good return on it, they won't want to patch it or support it. It's all about $. Plus odds are you really want to make a distribution copy. How many times have I heard the excuse "so I don't need to put the CD in when I play" when it's really a cover for making an illegit. copy...
Plus, this is irrelevant to a server thread. The server version doesn't require a CD to be present.