It is not that simple. First thing you need to do is convert your sequence to a PAL frame rate. NTSC is 60, PAL is 50. Compressor can do this for free or Nattress Standard Conversion can do it for $99.(http://www.nattress.com/?q=Standards%20)
Eisen Video Productions
Chicago Creative Pro Users Group
you don't say what your current format is.
kind of hard to advise without knowing that.
if you are 25fps, then yes your method would work
in fact you could also just useFCPs "Share" function and make the DVD direct from your timeline
other frame rates make things trickier
you really are best off exporting a quicktime movie, same settings, self contained.
then you need to do a standards conversion on that file.
as steve said the 2 simplest choices are Compressor or Nattress
i'm a bit old-school when it comes to exports etc, and most of the time i tend to export a Quicktime movie, same settings, from FCP,
then i do any conversions in Compressor, or even Quicktime for simple one-offs.
this method does not tie up FCP with needless conversions.