It’s good for scanning. It’s also got good error correction for ripping. It will be a mite touch slow for DVD ripping, though. But it’ll usually be error-free.
Also, the drive likes to burn DVD+R over DVD-R. Just ensure that you don’t go over 12x, and you stay with well known media [YUDEN000 T02, MCC 004, MCC 003, YUDEN000 T03, etc] and you will be fine. If you go shopping in the retail channels, get Verbatim or Sony DVD media for widest compatibility.
Chances are, much of the media under the Memorex, Imation, and TDK brands don’t have the best support, so try to stay away from them. But if you have no other alternative, they will do.
And as a little help tip: watch out for the CD capabilities of the drive. This LiteOn series had issues where the CD support could become broken. It varies by drive, and it may not even occur with your drive. Just a heads-up.