If this is for your personal use, I'd say "whatever works".
Make attempts at the fastest speed with proper CD-Rs, and test them on the real machine.
If it doesn't work, reduce the speed. But in my experience, the quality of the CD-R themselves is more important than the burning speed.
Also, CDTV may suffer from dying laser, and you can burn perfectly okay CDs and not being able to read them because the laser is too old (replacing the drive is in that case the best option, as opposed to the CD32, I didn't find any good resource on lens/laser replacement for the CDTV)