hello,
Can someone tell me what program they use to burn .img image to the cd? I tried to use magicISO, but it sait it cannot find the .IMG or the .IMG file is not an image file. 
Especially with the newer version 2.8.22 and 2.8.23.
You cannot burn the CF .img image file as an ISO file.
You can “transfer” it to your CF.
Read http://www.m0n0.ch/wall/installation_generic.php
or
http://www.mikrotik.com/Documentation/how-to-write.html
ISO images are avaliable under CD image section: http://www.mikrotik.com/download.html#v2