Here's the steps of what I did:
1) Copy original .cdi contents (NOTE: contents) into DATA directory.
2) Find ip.bin, 1st_read.bin somewhere and run binhack on them.
3) Copy ip.bin, 1st_read.bin to DATA directory.
4) Run b2b_game.bat
5) Use Daemon Tools 3.29 (NOTE: 3.29, not 3.46 or else it won't work) to emulate image.cdi
6) Enjoy the game....