If you have Nerovsion Express, then you almost certainly have Nero Recode.
It is easy to do this with Recode, simply by use "make a new dvd" option, selecting the title. After it has analysed the file (about 1-2 mins), simply select the same title n+1 times whe n = no of commercial breaks.
From the main screen you can select each instance of the same title and trim it very easily (set start/end) button. i.e. first instance of title is trimmed to be part 1 only, second instance part 2 only etc.
When all selected, simply burn (best to hard disk first and then from HD to DVD using Nero).
This is very quick and only takes around 15 mins or so. You don't end up with a menu though i.e. you put in DVD and it simply starts. However, this is no big deal. The time saving outweighs the minor issue by a mile.
Also, in the basic form as described here, each part (part 1, 2) becomes a separate title which play one after the other, which limits easy navigation a bit i.e. you can't easily fast forward though whole program. However, you can normally select a title though from your DVD remote to get round this.
Using IFOEDIT and/or PGCEDIT (both freeware) you can actually merge as a single title, set chapter spacing etc, and enable full navigation. Do a search on my posts (oilman) as I describe how to do it elsewhen in more detail.
If you don't have Recode, you could use DVD Shrink (freeware) to basically do the same.