LITEON 8X Dual-Format Rewritable DVD Drive (LDW-811S/8)

Dear Friends,
I’m new to the whole DVD burning or Ripping (I don’t know the difference between the two) thing. I’d like to transfer VHS & 8mm tapes to DVD’s and I’d like to be able to make copies of DVD’s as well. By the way if you have any suggestions as to the best Hardware, Software, and in general the best way to do it (keeping cost in mind) I’d appreciate that too. My main reason in asking for your help is in purchasing a DVD burner. Best Buy has one, a LITEON 8X Dual-Format Rewritable DVD Drive (LDW-811S/8) that’s on sale for $120.00 (after rebates). I’d like to know what you all think of that model and of that price, especially if any of you have had first hand experience with that Burner. Well I won’t take up anymore of your time.
Thanks & God Bless
Uncle Bob

it’s good so as long as you use dvd+r…