Not had much use of Cooledit for ages now, not since the new PC in fact.
When I did come to use it to work on a CD I found that Cooledit has linked itself to my DVD burner instead of my DVD player.
Only when I put a CD into the burner does the CD player within Cooledit show that a CD has been loaded.
Next problem is that my Realtek drivers have correctly linked to the DVD player.
The upshot is that I cannot play a CD via Cooledit that I can listen to or produce a waveform to edit

Ended up having to use Nero Wave Editor.