My CD-RW seems to have lost its burning capabilities

Right now I have a TEAC W516EB CD-RW drive. I’ve had this drive for over a year now and I’ve never had problems, but recently it’s been acting weird. I was burning an image file once with Alcohol 120%, and the burn dialog would appear and never move past 0%. The CD-RW was still making reading noises. It seemed to spin for a few seconds and light up, then it died down again, and it kept repeating this phase. I then tried to burn a simple file with the included burning capabilities in Windows XP, and it kept getting stuck as well. Regular reading still works completely fine. I flashed to the latest BIOS thinking that could solve the problem, but it still exists. Is there no more hope?

Try some other blank discs. Does this problem happen with both CD-R and CD-RW discs?