I don't know what Open MG is. I use Creative Recorder, since it came with the Sound Blaster to record via the Soundcard and output of the MD (R700 model). To burn I use not the Nero package, which wouldn't work, but Easy CD Creator 5. Works like a charm.

With the Soundcard came a software package which allows me to edit the WAV file created by the Recorder program. This allows me to boost the volume of the file, and break it up to create tracks on my CD. Easy stuff.