Here's an idea that I just cobbled together off the top of my head. The idea is to boot a Windows 95 floppy with the CD-ROM driver, then use an old boot utility called loadlin.exe.
Here is where I got the idea. I saw this page with the Windows 95 CD-ROM driver and figured that loadlin.exe might work.
Note that I don't know anything about this site. It might be full of malware for all I know. I just got the listing from Google.
Here is some information about loadlin.exe.
Here is where loadlin.exe is kept by its inventor.
Reply back if it works. Maybe you or I could write a how-to for this. There is a fair amount of interest in this subject. As you say, people are talking about it but not giving the details needed to do it.
I would try this myself but I currently don't have a computer whose BIOS does not support booting from the CD-ROM. I had one a year ago. More precisely one of my customers has one. I don't have access to that machine now.