I've never had a hard drive in my possession that was protected from readout. I can't look at data and tell if it's encrypted but it looks like the only protection is with the dongle (and having correct specs like the graphics card). It will boot up to the game without it but before the game starts it looks for it. If it doesn't find it it gives an error and then reboots after a couple of minutes. In mame I am guessing that will be patched through/simulated unless there is a way for us to dump data out of the dongle.