I have been having a similar problem installing Mandrake 9.2 on a Dell Inspiron 3500, with a Toshiba CD-ROM drive. I had no problem installing Mandrake 9.1...but it was not stable on my computer so I decided to try 9.2....which as I said does not install. It hangs part way through saying "i can't access a Mandrake Linux Installation disc".
I tried passing the parameters after hitting F1 as suggested but that did not work....what did work was doing an FTP install...I have broadband....so there was a work around at least for my machine. Did not try a local FTP install...that should have worked too I assume.
Nevertheless this is a problem as notebooks travel and access to broadband is difficult....I hope someone is working on this because I really like Mandrake's distro.
Cheers,
Joseph