That would be correct...You can export your project to an IPod....
now I haven't mess w/ any "Avid iPod" settings, but keep in mind that iPod videos only play limited video formats and that an iPod can also work as a portable data hard drive
so Avid might be converting your timeline to play on your iPod video, or Avid might just be exporting the data as a back up, the same way it would export to a thumb drive.
now going back to the thread topic, Avid to DVD...
assuming that you want a DVD video disc that will play on a standard DVD player...
the easiest way (as mentioned before) would be to play the video in real time out a stand alone DVD burner / player. (you can find these at any Best Buy, Target...) they work 96% the same as a VCR
the "pro" way to go would be to export your sequence to Quicktime (or some other uncompressed format), then import that video file into a program like DVD Studio Pro. then you can add chapters, menus, buttons, the works. build, format & burn. you have a nice looking DVD.
I'm not sure what software came w/ your burner, but hopefully there is a program that can at least make a simple DVD from most video formats
although keep in mind that DVDs compress thier video, so if you want a high quality copy of your video you should just burn your uncompressed video to a Data-DVD so you don't lose any quality