Heh a backup is pretty useless unless you really makes it a backup by burning it right? :P
However there are some people that think we are not allowed to make personal backups and so on....
No matter... You're right when thinking "create a folder named crack..."..
Simply copy the entire disc to a folder, create a folder named crack and put in the fixed .exe from GCW. Burn to a DVD-r with the same label as the original. Put your original somewhere safe.