I did my C.D. a couple of years ago in response to people asking for one. It's been a real blast . I was lucky enough to have two good people help out for free, one recording me and one doing the art work for the cover. By using a proffesional C.D. copying company I got a very professional looking package, with graphics on the C.D. itself. However, I did my last run on my computer's C.D. burner, using paper lables, and no one has even remarked about it.I recorded the C.D. on one of these desk top digital recording things, not much different from what you are describing. I only used three tracks as it's just me and my guitar. So I guess you should be alright with what you've got.
So, go ahead and do it. However, I wasn't prepared for people I had never met before knowing my song lyrics better than me! Or being asked to sign copies. That's all a bit wierd (but GREAT for my ego).
Good luck and enjoy.
Paul