My original post was not so much a naive call to take illegal action and start making counterfeit products, rather turn the understandable frustration shared in this thread into a more positive discussion about the possibility of doing this sort of things as a group.
Certainly my sum-up was a simplified overview of what could be possible, however I do believe that a handful of people using the right tools and working with the right sources would be able to produce quality repros at completely affordable price. It might not be a 1:1 repros, but I seriously doubt the "professional" CD repros out there are using the exact same paper, color calibration, silk screen process as the originals and compared next to each others might well be easily distinguishable.
As for the IP issue, this is of course a tricky one, while it is certainly not a valid legal protection, it is obvious that a very short run of repros distributed in an ad-hoc way and produced at cost, is not quite the same as making a dedicated website with a shopping cart and selling products with a margin, or making a port for a mobile app store or Steam-like platform. I doubt mainstream geeky media would pick up on something so low-key as a few hundreds repros from a PCE game nobody cares about but a handful of obeying nerds. But it is true that's still playing with fire.
I wonder what would happen if one tries to contact the IP owner of ${FAV_GAME} to discuss the possibility of a very limited pseudo licensing option.