I used a try before you buy version of this(Movie Factory 6 plus) for a month or so and then decided to buy it. It's great for editing video and producing DVDs, with plenty of choices for video compression and audio. You can also produce DivX DVDs.
I use DVD+/-RWs for watching TV programs recorded on my PC on my LCD TV downstairs. The only thing I found was that I needed DVDInfoPro to erase/format the DVDs each time. The Movie Factory erase/format doesn't seem to work properly. DVDInfoPro is free to download.