This site is NO LONGER being maintained for the "ALL NEW" site that talks about the new iMovie 11 please visit TheUnofficialiMovieFAQ.com
Background:
- 45 Minutes to an hour of MPEG-2 video will fit on a standard CD-R
- Toast creates and writes an MPEG-2 file to make a SVCD. This is basically a DVD burn to a CD
- The quality is slightly below a DVD, usually due to bit rate
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Find the Quicktime reference movie located in your iMovie Project folder
- Click the video tab in Toast 6
- Drag this file to Toast 6
- Select "Standard Quality" if you video has a lot of movement (sports type videos) or "High Quality" if your video is does not have a lot of quick pans
- Click Burn
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If you would like to see a video of this procedure click here
Tips:
If your VCD does not play on your stand-alone DVD player it may not be the disk, it might be your player. There are compatibility lists available at VCD helper.
I know of one OSX player for VCD's called the VLC media player.
Panther will play VCD's too! 
Not SVCD's 
