How can I be certain that the problem is with the burner, CD or reading the CD?
I would suggest you take a know good data CD, possibly one of FC4 install CD's put it in your drive and try to mount it. If you can mount it, and read the files on it, you have a write issue with the system or drive.
Have you updated your /etc/fstab file with an entry for the cdrom drive? Are you issueing the mount command from a console? If so, would you post the entry you are making? If you have updated /etc/fstab, would you post the line you have for the CDROM.