This sort of thing was common practice in the record/advertising industry before MP3 became the standard. I'd say its legit. 

My guess is that Pulp only banned the track after they received offers from ad agencies wanting to use it. I'm sure there were some really awful proposals. Also, this could have been sent to other countries where Pulp couldn't be bothered to enforce the ban.

If it is a forgery, I'd say it's a ill-considered one. The design and packaging look rather expensive, you can only sell one copy, the CD format is dead, and if you are going to go through that much trouble to make something like this, why Pulp of all bands?