From this
DVD+RW Alliance site...
Points on DVD+RW format:
1.. Quick Formatting
Blank DVD+RW/+R disks can be formatted within seconds for immediate use.
2.. Edit Directly On the DVD disc
Lossless-linking technology enables you to perform basic editing tasks right on the disc. No need to reload all your DVD contents back to your PC to make minor changesNo need to re-burn an entire DVD after making small edits
3.. DVDs created using the DVD+RW rewritable and DVD+R write-once disks can be viewed on nearly all* DVD players and DVD-ROM drives - the most compatible format on the market.
4.. Huge Storage Capacity. The DVD+RW/+R format stores up to 4.7 GB on a single disc - allowing you to record up to 3 hours of video, store thousands of photos and save hundreds of mp3 music files or other data.
5.. Variable bit-rate technology means you no longer need to sacrifice quality for quantity, or vice-versa. DVD+RW/+R ensures quality playback while maximizing storage capacity.
6.. Speed. DVD+RW/+R format writes 2.4 times faster than competing DVD rewritable formats - giving you the power to burn an hour's worth of video in less than 25 minutes!