From my experience of using Lite-On DVD recorders, they are about as simple as a VCR to operate, i.e. connect the VCR to the DVD recorder, choose the input the VCR is connected to, set the quality mode (long play, standard play, etc.), load a blank DVD and allow it to initialise, press record and then press play on the VCR at the same time. If you are happy to watch the video as it records, you can insert chapter points during the recording by pressing the 'Edit' button.
This page of my earlier review on the LVW-5045 gives the steps I carry out to make a recording (scroll down to "Recording a DVD"). As far as I'm aware of, this process should remain pretty much the same in the latest Lite-On models.
This page of the review gives an idea of picture quality of the various play modes. As the review is ~4 years old, the quality may have improved in more recent Lite-On recorders.