Last part first: No, not a good idea to backup to CD-RW. CD-RW is not very stable. OK for temporary files but not crucial data.
The latest version of Nero 184.108.40.206 has a module called Back it up which I now use to back up complete hard disks to DVD. It will also back up to CDs if you don't have a DVD burner.
What (recent issue) PCA was this article in?