Yes, it is possible to boot FREESCO from a CD!
This article describes a procedure to do so for FREESCO 0.2.7.
For FREESCO 0.3.x a special forum for bootable CD info has been started, go here for details. If that link is dead, try this link.
Tom has made ready-to-burn ISO images, that can be downloaded from http://comms.mine.nu/mirror/tom/.