If you haven’t already, please read this article this article on backups.
There has been some publicity and comments about CD-RWs lasting for only 1000 writes – Fahim, the computer programmer and geek, says that sometimes, they’ll last for only 10 or 15 burns, and 1000 is optimistic. Granted, he hasn’t done a statistical study on it, it’s just based on his experience. He also made a comment that it also depends on software used, the way the CD is used, if the CD is kept in the sunlight – things like that. So while CD-RWs can be handy and cost efficient, I wouldn’t rely on them for a sole backup. If I were to use CD-RWs, I’d still combine it with a CD-R backup at least a couple of times a month. Basically, I’m paranoid. But again, despite computers being stolen, hard drives melting down, motherboards frying, and corrupted data, I’ve never lost anything. Period.
Paranoia pays off in spades as far as I’m concerned.