Thanks for the response LiteOnGuy.
No the burner won't burn at all, as it thinks the blank discs are finalized/closed audio discs so won't allow me to add anything else in another session.
The only successful burning operation it performs is to erase a CD-RW disc, upon reinserting said blank CD-RW it shows as an audio CD once again.
I forgot to mention in my first post that I've also tried this drive on several other PCs, it installed 1st time and works like a dream so it's not the Iomega hardware at fault.
I uninstalled the Iomega software again, this time also removing the 'USB storage driver' entry from within Add/Rem Programs (it came with the Iomega BurnPro s/ware); this time the PC went apesh*t - I rebooted to discover all entries within Device Manager had been zapped! So Windows set about reinstalling all hardware, once all devices were reinstalled I tried installing CD-RW drive again, now every time I connect the drive to the USB port the PC just hangs then 'blue screens'.
Now normally I'd just reformat the hard drive and reinstall Windows, but there are some critical apps on the machine which I don't have the reinstallation discs for.
Called the Iomega testicle helpline but they've not been much use.