Click on Partition. This only takes a few moments. Quit Media Formatter.
Toast can make many different kinds of CDs.
See the manual for others. The hybrid format is nice because it can be read by both Macs and PCs. It does have the drawback that your files have to be copied one extra time during preparation and so takes that much longer to make. Drag the folders and files that you want onto this window. This means that you would not be able to get your files from several removable disks directly.