My replies to this post seem to have disappeared. The reply from darkestnight seems to be missing to, so I shall reply anyway.
I was able to get around the protection by using Alcohol 120% Version 1.9.5 (3105)

Create the image using Alcohol on the SecuROM 4/5 image creation settings. My mistake before was not setting the DPM scan speed slow enough, when it is set to 150 Kb/Sec, the image come out fine and can be run by mounting it in Alcohol.
To create a working backup copy I used to RMPS setting and switched Emulation on in Alcohol.
Works a treat