Yep thanks to the efforts of the WHDLOAD team you can (almost) get the full CD32 experience on a 1200 sans a CDROM drive. As Cammy mentions you'll often miss out on music/speech....check out Beneath a Steel Sky for a job done well (as long as you have 129mb FAST RAM).
Another option is to do wireless connection to your Windoze machine and connect to it's DVD/CDROM drive using EasyNet (it appears as an icon on your WB just like a normal Amiga drive), I've never got this working myself but I've heard that other people have so you may be able to use this method to play CD32 games.
