Doesn't sound good...
Usual list of questions:
Add any software in the last few days?
Yes - uninstall the new software and see if it's fixed.
Upgraded any software in the last few days?
Yes - Try and roll the system back to before the problem.
I assume you would have mentioned any new hardware so we'll skip that one.
If none of the above helps try:
1). Go to start-control panel-system-hardware-device manager, open dvd/cd rom. Then right click the cd drive name, then click uninstall. When it's done uninstalling the cd drive reboot and windows will find and reinstall the cd drive. This will replace the drivers if they got hosed. (If it doesn't auto reinstall on boot go to start-control panel-add hardware and follow the instruuctions.)
2). Install the cd in another computer and see if it works there if you have that option. Friends with computer come in handy.
If none of the above helps I hope you're still in warantee. If the warantee has expired think Lite-on, they have a 52x burner for about USD $50.