I suspect this is highly illegal since many authentic fakebooks cost more than $30 each, and this is certainly a homemade CD with a cheap inkjet label. $30 would never cover the publishing royalties for that much music. I would follow the eBay rule of logic: if it looks like a rip-off, feels like a rip-off, smells like a rip-off... it's probably a rip-off.
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Jim Eshleman