Digital Versatile disc - Read Only Memory (DVD-ROM) is a DVD format with technology similar to the familiar DVD video disk, but with a more computer-friendly file structure. The DVD-ROM format was designed to store the same type of computer data typical of a CD-ROM, and is intended for use in DVD-ROM drives in a personal computer.
CD + Extended Graphics (CD+EG, also known as CD+XG) is an improved variant of the Compact Disc + Graphics (CD+G) format. Like CD+G, CD+EG utilizes basic CD-ROM features to display text and video information in addition to the music being played. This extra data is stored in subcode channels R-W. Very few, if any, CD+EG discs have been published.
DVD-R – write once recordable DVDs Similar in concept to CD-R, DVD-R (or, DVD-Recordable) is a write-once medium that can contain any type of information normally stored on mass produced DVD discs – video, audio, images, data files, multimedia programs, and so on.
In your case, since your drive is a DVD-RW, you’re effectively limited to DVD-R and DVD-RW format discs. Stay away from any of the “plus” formats, as those won’t work with your drive (and being newer, they cost more anyway). As to whether you want to use DVD-R or DVD-RW, that depends on what you want to use them for.
The DVD-R and -RW media formats are officially approved by the standards group DVD Forum. The DVD Forum was founded by Mitsubishi, Sony, Hitachi, and Time Warner, so it has tremendous industry support for its technical standards. DVD+R and +RW formats are not approved by the DVD Forum standards group but are instead supported by the DVD+RW Alliance.
The Video CD format (also know VCD) was created in 1993, a few years before DVD-video (what we now just call DVD). VCD never really caught on the way the DVD format did, however. Despite both formats playing video, there are technical differences between them.