I have the same problem with my Que! 8X4X32 CD-RW drive. I should say that it works perfectly in OS 9, but not in OS X, after the 10.0.3 and iTunes 1.1.1. update. It does the same thing: recognizes the drive, prepares all of the files, and then seemingly starts to burn, only to cancel the burn, and give me an error -7932. Anybody else experience this, or is it just us?
Drew
G3 450 (soon to be Ti500!)
512 mb RAM
OS X, OS 9.1 (separate partitions)