I've tried writing Video CD and Multi Media CD using VV3 and each time once it's complete my computer wont read it. It sounds like the disc is just spinning and the CD Rom is stryingto read it. I can't even open in Explorer. I even took itto work to try and read on another PC. No luck.
In addition to selecting the MainConcept mpeg-1 encoder, make sure you select the VCD template. It's easy to forget to do this. Default settings work fine (though you can adjust the compression/quality level).