Hi Erik,
Do you have a Kona card and a standalone DVD recorder? If so, the Kona card can output with a TC reader, which you run straight into your DVD recorder. It saves on a LOT of rendering because it does everything in realtime. Of course, the edit suite is out of action while this is going on though.
If you have to do this in software, render the clips with the TC reader, then export a Quicktime reference file, and bring that into Compressor. From there you can apply one of the DVD presets, then create the DVD in DVD Studio Pro.
One quick suggestion here, if you’re stuck doing this with FCP/Compressor/DVDSP: As this is presumably for your client to pick out TCs for a rough cut, you might consider setting your timeline to render in lower resolution & frame rate, in the Sequence Settings tab. This will seriously speed up the rendering in FCP, and for preview purposes it should be fine.
All the best,
Alex Elkins