CD-RWs do not require formatting. Formatting is only needed when you desire to use the CD in the same way as a floppy disk or a hard drive, being able to copy in Explorer via Direct CD software. You can use a CD-RW with the Adaptec Easy CD Creator software in exactly the same way you write to a CD-R.
The answer to your question Rfeenie is yes, you can reuse the CD-RW from scratch. If you use Adaptec software for your CD Writer drive then the application you would want to use to erase the information(or the Direct CD formatting) from your CD-RW disk is the CD-RW Eraser application that comes packaged with Direct CD and Easy CD Creator. You can usually find the shortcut to this application in the Direct CD folder of your Start/Programs list. Once you have erased the CD you are free to either format it for Direct CD or copy new information in Easy CD Creator just as if the disk was brand new.
Greatwhite, HP Pavilion Phone Technician