First thing to be aware of is that (currently) MorphOS will only run on your G4 Quicksilver and maybe your eMac - depending on which model it is.
Second thing to note is that MorphOS is, at its core, an Amiga. So it has all the pros and cons that come with running an Amiga system. The main advantage is the incredible resource efficiency - you'll get much better performance out of the system under MorphOS than under MacOSX or Linux. The main disadvantage, of course, is a lack of applications. The MorphOS version of OWB, however, is probably the best browser on an Amiga-like platform today. It has a modern rendering engine and a GUI that retains the best features of IBrowse.
Personally, I've found MorphOS to be more stable and to have better 68K compatibility (system friendly programs only, of course) than OS4.
Give it a try - there's a free demo. If you don't like it, you'll be out nothing more than a few hours time and a CD-R.
Burn is a good basic CD-burning program for OSX. You'd burn the MorphOS ISO from Burn's "Copy" tab.