Two questions: 1. When the CD light comes on, what happens next? What should happen is that a status message will come up saying that a CD was detected at /dev/hdc (or whatever). Press Enter and things will start. 2. If nothing happens, maybe you Slack CD is no good, despite comments to the contrary. Did you run an MD5SUM on it? If not, you should. Many times a download and burn can appear to go smoothly, but after banging your head against the wall several times, you realize that the d/l was corrupted.
In any case, the steps you've outlined sound correct to me, at least up that the point that you say the CD light comes on. As I mentioned, your system should detect your CD and all you need to do at that point is hit Enter. Assuming that you haven't removed the CD, it should continue. -- J.W.