I do. I keep looking at it every now and then till the burn is complete. I still remember the days when Burners didn't have Buffer Underrun Protection
Well, as regards using a Sony F/W i'd rather see a Green Blinking LED. However, if this is possible it means Lite ON Burner ships with a Red LED as well. Then, may be someone can patch the Lite-On firmware as well.
I had read somewhere that Lite-ONs now ship only with Green LED.