My brother & I messed around with making a DVD of music, and used Be Sweet to transcode 44.1 kh Redbook to 48 kz and recorded it as a slide show. This works well as you need only one JPEG, which takes almost no disc space at all. This allows 3 or 4 hrs of (probably) full quality CD sound on a DVD.
The downsides? Well, my brother chose as the musical subject 3 hrs of dogshit sounding 15 year old hairmetal CDs. A headscratcher indeed, the actual CDs sound pretty shitty, so it's very hard to tell if the sampling rate converter is very transparent.
The other problem is that, at least with the software we tried, you can't precisely tie the time of the "slide" with the duration of the song. It can be done to within a few tenths of a second, but over a couple of hours of music it starts to get further and further off. Now, this works just fine if you're just listening, but if you go to skip tracks some song may get clipped.
Still, it shows it can be done. There are some other options I'm looking at. I'll report back as I learn more.