Creating karaoke songs

I am an avid karaoke singer. My friend runs a show here in Tucson, AZ. The problem is that some songs I want to sing, are not on any cd+g on the market. Now, I know there is software that lets you create karaoke songs (authoring your own music type) where you take a WAV/MP3/MIDI file, import the lyrics (or type them in) and then synchronize the song & lyrics to create a karaoke track.

Here comes the question:

Does anyone know what software works best and with what cdr’s or DVD/r/rw’s and wont cost an arm & a leg (under $50-ish [the farther under the better - haha])?

I’ve tried some demos and had fun creating tracks, but I couldn’t get the software to burn a disc that will play on my karaoke player, yet I can get that burner to copy karaoke discs and make compilations, just not create a song.

Any help?