Hi effgjamis
Besides NTFS advantages, as you would use 4.7GB discs the 4GB barrier is not that important - the individual files would be within the FAT32 size range.
Formating in FAT 32 discs can be seen as external HDD by all MS O/Ss, with not need of packet writting software and all the associated problems.
The problem with InCD and UDF files is that if you write and delete a lot of files and the disc's TOC needs to be midified often you risk to get problems.
And DVD-RAM checks your files integrity, thus the reason for lower speed (but it writes behind the scene as a HDD) and you can read from it while files are being written.