What about Alcohol 120%? It surpasses CloneCD when it comes to newer protections and is equal when it comes to older (or none) CD protections. Not that it really matters when it comes to CD32 games, but still, it should be usable, right?
I'm planning to do a little "backuping" myself, so this is an interesting thread. The only way to go in my opinion is as close to the CAPS fashion as possible (well the spirit of it anyway.) But is such accuracy within reach when it comes to CD's?