Thanks for the replies folks. I figured that the case was the firmwares were representing a diferent clas of drives. I don't know what the difference is between the bin and self extracting files other than the bin has the firmware only without the instruction set for installation.
I haven't tried backing anything up yet. I used the ROXIO drag and click to burn a sample disc of some of my mp3 library just to see how it would work. Other than that, I have basically just watched some discs and am on my way to figuring out how to burn DVD's with my copy of Nero 6 and Alcohol 120% build 1.4.3.
I might try upgrading the 708UF2 to firmware 1.05, but i don't see the need to do this just yet. Maybe I'll break it in before flashing anything funny.
Thanks again for helping clear up my first questions.