Hi, I have the full version and find it the easiest (and usually best) way to create MPEG2 for DVDSP from Media 100 materials. It’s only part of the answer as I still get better results from Compressor on some material, but that does mean tedious adjustment of levels in m100 and hours of exporting, plus gamma correction, to achieve what hitting “Studio RGB” does in BV.
As for the Lite version, from a quick scan of the feature set on innobits web site, It is only really the lack of CBR that would hamper you in making basic DVDs. I don’t use CBR, and in fact have not had call to use many of the enhanced features mentioned yet, so maybe lite will be OK for you.
One word of warning though, from my experience and despite what innobits say, having “DV luma” checked seems to mess up the gamma just like compressor does. I always leave it unchecked.
Hope this info helps.