I use the latest Winamp and like many users I'm dissapointed it won't create MP3 CD's. I invested in Nero because you can save a playlist in Winamp and then use it to burn an MP3 CD using Nero Express to load the m3u file. There's one problem though, I like to group all my MP3's into folders by artist name. That way, on my car CD player I press the up or down button to change folders, hence, change artists, and left and right to change tracks. Nero simply burns the play list all in one folder. Looks like I'm going to have to re-install Media Jukebox on my PC since it has the capability of automatically burning MP3 CD's while create folders for each artist. I wish Nero could do this. Using some type of MP3 organizer to create a duplicate copy of my playlist files organized into folders, then dragging the folders into Nero might be an option but that is pretty ridiculous to go to all that work.
Have you looked into DbPoweramp, I haven't used it for a bit but it used to be a must have. http://www.dbpoweramp.com/