DVD+RW is a format backed by Sony, Philips, Hewlett-Packard, Ricoh, and Yamaha.

Tech

It uses phase change, groove-only recording like CD-RW. Other characteristics include the use of CAV wobble for addressing, CAV or CLV rotational control for providing choice between raw data transfer and faster data access, and that DVD+RW is a sequential medium (also like CD-RW, not to mention CD-Audio and CD-ROM).

Capacity - Media

Capacity is 3GB per side. The media looks just like CD or DVD-ROM and does not require a cartridge. Second-generation DVD+RW drives, which will appear around mid 2000, will support 4.7 billion bytes and are expected to write CD-Rs and CD-RWs. The 4.7G DVD+RW format will use a high-frequency wobbled groove that allows it to eliminate linking sectors.This change, plus the option of no defect management, allows DVD+RW discs to be written in a way that should be compatible with most existing DVD-Video players and DVD-ROM drives, as well as DVD-R, DVD-RW, and DVD-RAM drives.

So where we could possible read it?

A DVD+RW drive will be able to read CD-ROM, CD-R, and CD-RW media, as well as DVD Video and DVD-ROM but will not be compatible with DVD-RAM discs. Because of reflectivity differences, linking sectors, and defect management, DVD+RW discs can't be read by existing DVD-Video players or DVD-ROM drives, except for the very newest drives from Sony and Philips.

Price

Expect them around $500-800 when shipped.