you're building pretty much the same system as i just did

2600 barton (i'd suggest getting the barton if you're not)
abit nf7-s (i thought about getting a7n8x but nf7-s is cheaper)
wd 120gb SE
2 512mb kingston pc3200
xp pro
i would say get separate drives (thats what i did) i got a liteon dvd and a liteon cdrw off ebay for less than $60 total (cant remember how much exactly) course i didn't get a dvd-rw drive which is what you want (i dont know what those are like)
if not seperate drives i'd say get a normal cd drive to go along with your combo