Create a new view under Audio. If you don't know much about this, here's marco's very good overview:
http://yabb.jriver.com/interact/index.php?topic=68960.0Set your rules for file display to that shown in the attached screenshot. Take care to ensure the parenthesis are added (hover where the parenthesis should be, and click).
The Reference ID columns shown in my screenshot won't be of use to you unless you've tagged your CDs with an ID, so we'll skip that portion.
The Artst, Album and Volume Name columns are just stock MC fields you add as columns.
The Location column is an expression column:
IfElse(isequal([file type], ifo, 1), DVD,
isequal([file type], bdmv, 1), Blu-ray,
isequal([file type], cda, 1), CD,
isequal([Removable], 1), CD,
1, [Volume Name])
You might also consider adding a Name column. Marco also has Media Type, Keywords, File Type, and Date (year) columns.
His second Artists column is an expression column:
Left([Artist], 2)
It is also possible to combine both Artists column into a hierarchical tree view (A > Aa, A > Ab, etc.). Ask if you'd prefer this.