hi there Pilgrim, nice to see you again.
1. yes, but i don't know if you'll need the InCD Reader
to be able to read those Mt. Rainier CDRWs.
2. yes. but i'm not sure you should update to JJ11, you might want to stay with the official LG JL11 (JJ11 is a hacked firmware).
you should read up a bit on it, a few thread at CDFreaks, learn what the differences are.
here's one topic (with links to the original unhacked LG firmware)
if you want the hacked firmwares here they are:
the "GSAH10N_JL11.exe" sounds like the original LG firmware (unhacked).
you just double-click on it, that's all.
One Ring to rule them all, One Ring to find them,
One Ring to bring them all and in the darkness bind them
In the land of Mordor, where the Shadows lie
M.C. Escher - Reptilien