68030+16MFast would be enough or not?
Yes, If the drive supports burn proof then backing up files on the fly will be fine but without burn proof you would have to make a image file of the data then burn the image file.
Get more memory though but otherwise you can burn cds on a 030.
Just use a CD-RW and test different settings and if the cd messes up then erase it and try again, trial and error is the way to go :-)