I'd import the photos as still images into iMovie - the number is limited only by whatever time you assign each still and how long you want the slide show to be - and then export from iMovie to iDVD; I don't know if iDVD has transition options, but that's something else in iMovie that might be of use to you. The iMovie route also addresses your audio question, since you can also import as many audio clips as time allows.

Remember, though, that iDVD has a 90-minute maximum for the DVDs you produce.

Hope this helps.

Oops. I guess I missed the part of Mike's query where he's polling us on how he and his family should spend their time.