LiteOn keep pushing both recording and re-writing speeds with new models. After the known LTR-48125W, a new recorder arrives shortly and gives a boost in the re-writing speeds up to 24x...
The LTR-48246S supports 48x (CAV) writing, 24x (P-CAV) re-writing, 48x (CAV) reading, SmartBurn, Smart-X and includes 2MB of buffer. The major specifications are the same with the LTR-48125W and the only difference seems to be the increased re-writing speed.
In order to write 24x, you would have to get new HS-RW media based upon different chemicals than the existing one. The new ORANGE BOOK PART III VOL.3 V0.5 descibes such high recording speed (up to 32X).
The new drive is expected to come next month...