I am intrigued as to why, when you reopen VS in step 5, you choose Movie Wizard instead of the main Editor. I realise it may be a matter of personal choice, but it is one which I have never made in the five years of using VS. I open the Editor and immediately select Share > Create Disc > DVD. The burning module opens. I insert my mpeg-2 in the burning timeline, build my menu and burn.
I was also intrigued that you said:
I searched the forums including the thread you mentioned and found that the steps involved in burning the DVD using VS are one too many.
Can you tell us what the one step too many actually is, in the context of the steps I take outlined above?
I am not sure if the following is relevant to your VS workflow, since as I say, I have never used the Movie Wizard. But I suspect it might be. When you open the burning module using the Editor (Share > Create Disc), you first insert your video in the burning timeline. If you want to add Chapters, then click the Add/Edit Chapters button. Then you click next, and the page where you choose a Menu template appears. Once you have selected a template, you click on the Edit tab on the same page to select background music, change the background photo etc.
Down in the bottom left corner of the Edit page, though, is an innovation in VS11, and I have found that it slows down my burning stage enormously, and even brought it to a complete halt. Now I never use it. This might also be relevant to your own problem.
There are two icons, one above the other, labelled Menu In and Menu Out. Using them is supposed to animate the transition from the menu to a selected video clip. You will see that the Menu In icon is disabled by default (circle with diagonal line through it). But the Menu Out button is enabled. And this was the culprit. Click on the icon and it brings up a choice of animations. Choose the disabling one identical to the default for Menu In. Then proceed to burn. I think you might notice a considerable improvement in performance.