I have used Lightscribe on about 30-40 discs without an issue, but they were audio discs. They do cost a bit more, but watch for deals if you're expecting to need any. It takes about 15-20 minutes to burn an image on the entire disc. You can shorten this time by keeping things near the middle. Image quality is good actually (I use the highest setting), but monochrome, of course. I don't think you need to worry about data on the other side because it works like a thermal printer and only affects the thermal-sensitive side.
I would definitely stay away from sticky labels for CDs.
Printer-wise, I have a Canon MP620B and do not recommend it. The scanner is great, but it uses ALL of the ink even when I only print using black. I think it wastes the other ink due to it going through a cleaning cycles after every print and I rarely print things out.
I had to break down and go with non-OEM ink this time. I know people say not to, but
$69 for ink is a bit expensive. I just bought a 12 pack for $12, which includes two complete sets of the 5 needed for the printer and two extra large black inks. Normally this would cost me $138 for OEM (and that's excluding the two extra black inks, which would add another $34). Even if only some of those worked and the second set dries up before I need it, I still come out ahead. I just replaced them yesterday and what I've printed looks fine. That's not saying that there isn't a gamble involved...
None the less, be sure to do research on that if that matters to you. I like to conserve the color ink by printing using black unless color is needed. My printer choice was bad in this case. I didn't imagine that would be an issue.
I know this information comes a bit late, but there you go nonetheless! :D