I know jack about synths, never use them myself. Hopefully someone will come along that can help you in that area.
What version of Cool Edit do you have? I started with 1.2, then skipped all the way to Adobe Audition 1.5. AA has a great cd burning facility built right in for burning audio cd's. If not, you can use Nero or whatever to burn audio.
Keep your burn speed slow, 4x is fine. Burning audio at 52x will usually make a skippy-poppy POS cd.