CD Freaks has put together a review of Pioneer's new 16x DVD±RW, the DVR-111. Here's what they had to say about it:
The Pioneer DVR-111 can produce excellent quality burns on DVD±R media. Every one of our tested media had a perfect read-back curve and our KProbe scans demonstrated how well the media had been written.

The Pioneer DVR-111 was also able to burn CD-R media with very good quality, again our KProbe scans showing us how well the media had been written.
It sounds like the DVR-111 is a definite improvement over Pioneer's previous drive, the DVR-110D. If you'd like to read more, the entire review can be found here.