The problem is that most of the programs you have that need the CD to run rely on registery settings that are mapped to the CD device as being F: drive. Based on your post, I'd have to assume you are on Windows 98. Unfortunately Windows 98 doesn't have a means to search those out and replace them with the new drive letter.
I would suggest getting your hands on Partition Magic http://www.powerquest.com/partitionmagic/ (I just got a surprise! Looks like symantec bought out Power Quest -- that's irrellevent, but interesting). There is a trial version you could use. If you like it, it's an incredible tool and suggest buying it.
The specific reason I suggest Partition Magic is that when you create a new drive, they have a "map" tool that can optionally be enabled to scan your computer for any references to the drive letter changes and automatically correct them for you so your programs can find the correct file paths.
What you'll probably have to do is delete the compressed drive (F:) and when you do, your CD will default back to F: . You may be able to use Partition Magic to simply run the MAP option without deleting the drive, but I'm not sure. I've never needed to do that. Then recreate the drive again with Partition Magic and use the "MAP" option.
Anyway, I hope some of that helps.
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