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Have seen this a few times.
The way I had it explained to me is this.
No it's not legal from a technical point of view, as you have infringed upon copyright law by actually playing a duplicate of a CD that you in fact don't own, and if they wanted to be really nit picky they could prove this and take you to court.
However, as you actually own a copy of this recording, you are not the target group that they are looking to prosecute as you are not preventing the creators (and more so record company) from being paid.
Cheers
Nem
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https://www.mixcloud.com/Calvin_Karass/
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