Phatnoise did release versions of their software that did not require a key, and you can grab this from
http://phatnoise.us once signed up. (Ignore the spam that's on there at the minute, I have yet to address this issue)
If you want something more Windows 7 compatible, then you can try my replacement software over at
http://www.phathackmm.com - well, you could, except somehow I have managed to completely break the site!
Bu I can give you a direct download link for it. But this requires that you are using a USB 2.0 cradle, or a suitable drive caddy