http://forum.alcohol-soft.com/Five posts down it mentions it being free...
"Our retail version still supports 31 virtual drives.
Remember you can not run Alcohol 52% if you have Alcohol 120% installed on the same drive.
This version of Alcohol 52% is for private, non-commercial, single home computer use only.The license is provided personally to you and for that reason it does not allow you to make any duplicate (copy) to be sold, borrowed, assigned, leased or transferred"