From 'All Programs' I go to 'Instant CD+DVD to 'Backup' to 'InstantBackup'. This is Pinnacle DVD Copying Suite. I didn't see anything about formatting - I thought it that was needed I'd get an appropriate message.
I use Roxio easy media creator, this has a drag to disc function that formats the cd/dvd Rw and allows you to use it in the same way as a floppy drive, this is know as packet writing. Stuartli is correct as I have done the same in the past, but some software packages need the cd/dvd to be formatted. Does the Pinnacle software have an option to do this?