While images are nice, for CP/M there is another alternative that may be
more widely useful and easier, although it's less historically accurate.
That is just to copy the files over to MS-DOS disks, where they can then
exist in folders on a modern hard drive or be put on CDs or DVDs. I can
really see no advantage to a strict "image", as long as one has the files.
The issue that this leaves out is the system tracks, but that is easily
dealt with: Runs "SYSGEN", exit, and then do a "SAVE 34 SYSTEM.COM"
and you
have the system tracks as a disk file in a format that is easily restored
simply using SYSGEN.
This method also has some actual advantages, in terms of being able to
actually use the software with a CP/M emulator on a PC.
Since I'm not aware of any CP/M programs that did copy protection or any
other type of manipulation that would require an exact disk image, I don't
really see the drawback of this approach.