I don't know Waveburner but I'd strongly encourage you to try out a few different apps and settings before burning more discs. Resampling is a huge number crunching exercise and the higher quality conversions always take longer.
Why not record in 44.1 if CD is the destination?
I'll answer the first question first: WaveBurner is a professional tool designed so that you work with your files in 24-bit format up to 96 KHz. They provide plug-ins so you can do all your work in WB without modifying the original content. They use the original source material then, downsample and dither are done at time of burning using one of several POW-r routines.
For those curious check out Emagic's web site
http://www.emagic.de for more detailed information about WaveBurner Pro. If you own a Mac and want to make true redbook CDs, I highly recommend this product. There is a downside, it was selling for about $299.00 USD last time I checked. I was fortunate enough to get a version with an Emagic audio card, but then I sold that card and they allowed me to upgrade for less than $150. Currently this product is not Mac OS X compatible (which isn't a problem for me since I haven't upgraded my Waves plug-ins to Mac OS X).
CD is NEVER my destination, it's DAT. CD is just the by-product of people not wanting or having DAT. I prefer DATs and listen to my DATs as much if not more than CDs. Also while slight, there is a difference between 44.1 KHz and 48 KHz (at least if you believe Nyquist).
Wayne