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The speed at which the CD burns is irrelevant. It doesn't matter how "hot" the CD gets, or anything like that. The information is stored digitally. It's not like a record - it won't "wear down" or anything.
Like Pjotr G said, if you have a 24X burnable CD, burn it at 24X!!
I'd recommend you don't have any processes running in the background, though, or you'll risk a buffer underrun - what you should really be worrying about. This will cause pops and crackles, etc. Not the speed at which it burns. So close everything except your burning software, and ESPECIALLY Winamp or other memory-hogs.
Of course, with newer computers and newer burners (the LiteOn, for example), with greater buffers (and more RAM on the comp), you have less of a chance of running into problems. But it's best to be cautious - if you have a fast burner then it shouldn't be an issue - it'll finish burning in 5 minutes anyway, and you can get back to whatever you were doing then.
Personally, I view it like this: the faster it's done, the less chance something will get fucked up. 
YMMV.
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