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Yes. As long as the project is < 2 hours it should fit on one dvd with little problem.
Send it to encore and encore will auto encode it to fit.
By sending it to encore, would it be quicker to burn to DVD rather than using Media Encoder to make it an MPEG 2?
The transcode to MPEG2 needs to take place either before or after you send it to Encore. The time to do so will be about the same either way.
See my reply to your other message http://forums.adobe.com/thread/490577?tstart=0
I'm not at my editing computer, but if I remember when I get home, I'll post the few steps to make a "quick" DVD with few options
Depending on the version of PrPro that you have, Encore is probably your best course. If you have PrPro 2.0, you can burn directly to DVD-Video, but I still think that Encore is the best workflow, because of its power and flexibility.
If you have any Encore-specific questions, THIS is the Encore forum.