I passed up on the obvious... Snagged from a random blog:
A good maximum size for your PGPDisk container file (.pgd) should be 4450Mb (much roomier then the 695Mb container files for CD-R media). Now, you'll still want to format the mounted encrypted volume as FAT32, just in case you dump it onto DVD-R media (PGP will refuse to mount an NTFS formatted volume if it's on read-only media).
At the moment, I'm trying to figure out how well PGPDisk works when the container file is stored on the DVD+RW disk. So far it seems just as snappy as when it's sitting on an external USB 2.0 drive -- but I forget how many times you can re-write sectors on DVD+RW media. I still like to do the actual volume creation on my C:\, then I unmount the volume, move the container file to the DVD+RW platter (takes about 15 minutes to copy that 4.35Gb container file), and then mounting the volume for actual use.
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