Setting cd burner in iTunes

[abillups at mac.com]

Have a problem. Got a new  external firewire cd burner for the Cube. 
Burns fine from Toast, but iTunes does not recognize the burner. It is 
a Memorex that I picked up at Fry's. Am I out of luck? iTunes still 
lists my old Yamaha burner and says it doesn't find a burner.

I checked Apple's website, and Memorex is not listed, the Apple System 
Profiler says that it is not supported.

I am trying to burn an audible file to cd, and the Audible site doesn't 
give any directions other than using iTunes. When I try to burn it with 
Toast, it says it doesn't recognize the file type as one that can be 
burned as an audio cd.

Am I out of luck here?