Whenever my company gets new software or sound libraries, we always burn images of the install CD’s or DVD’s and store them on a server attached 3 TB drive. We use “Toast” to make the image, but you can also use Disk Utility or other methods. Once we have the images stored, we use the Finder built-in “DiskImageMounter” (contextual menu item when you click on an image or DMG) to mount them and install from them. (BTW if you are using Windows I recommend “PowerISO” but there are others of course). The speed increase over installing from physical media is enormous (and you can mount dozens of disk images in one go). There is a “Play” library (I think it’s the Pianos) that comes on 32 DVD’s! So far I have not filled the drive, and it includes my entire company’s accumulated software purchases, not just my own. It is my belief that copyright law allows you to make a backup copy for your own personal use, but I’m not sure. In any case, “legal” or not, I am going to protect my assets!
The first time you do this will of course take as much time as if you installed from the media. But after that, each time you need to reinstall will be many times faster, plus you have future-proofed yourself against the loss or damage of the media, etc (providing you have backups of course!).
I also highly recommend that you get an external USB DVD burner, as others have recommended here. That way you can watch and rip movies, and prepare media to give out as reels, etc. There is a Samsung on Amazon for $25.00.
BTW, my experience with “DVD Sharing” has not been good. I have had installers fail in the middle because of communication problems. YMMV.