This is something I want to know too. I got BF2 when I only had a CD drive but now that I've got DVD I really don't like having to swap during installation.
Just burning a DVD with the contents of the CDs might be good enough to install with. Give it a try (use an RW disc if possible for testing). You wouldn't be able to play the game using that DVD though; you'd either need the CD in the drive or a mounted CD image (follow Revoluti0n's link).
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