You can do the bitsetting stuff independent from your burning application with Nero CD/DVD Speed. This is installed with Nero, but it can also be downloaded from the author's website: www.cdspeed2000.com
Concerning your drive, it might do the bitsetting automagically without additional software. For I am not sure about that, please check the review on cdfreaks.com about that.
Which Nero and where to buy?
If you got your LG drive as retail version, then there should have been a OEM version bundled with. You are entitled to get a free update to latest 22.214.171.124, if I remember correctly.
In my opinion Nero 126.96.36.199 is best version, but at least here in Germany this is only available as Express (cheapo, they even distributed is as giveaway on computer magazine CD for free). The full version of Nero 6 is no longer available here, they want to force people getting Nero 7.