Wrong. DVD+R was released after DVD+RW. DVD+RW works best as filesystem accessible rewriteable media. The format was updated to include write-once media in order to compete with DVD-R. (You'll notice that even the write-once DVD+R discs bear the stylized RW logo.)

Check here for some more info on the entire DVD spectrum.

A few other quick notes:
1. The +RW alliance claims 100% compatibility with the DVD-Video standard. I've had no trouble using +R discs on very old DVD drives and DVD-Rom drives. Although, as has been said above, there seems to be a huge amount of variation across different drives and players.

2. +R/+RW media does not have the rediculous finalization (lead out) routine that's required with -R/-RW routines.

3. One more thing, formatting times for -RW are rediculous, whereas +RW media can format on the fly.

Although my drive is multiformat, the +RW camp has my vote through experience.

What about Loom?