Yikes... What make/model is your CD-ROM drive? You can tell me and I'll see what I can find, or if you prefer to do it yourself, just Google, "[CD-ROM Make and Model] Windows 7". See if other people have had problems with it.
"TSST corp" means Samsung. (That's what my Samsung drive shows up as). Try upgrading the firmware per the instructions on this page. (Note: In the words of of commenter, this site does have popups, but the content is useful. Solution: use Firefox, which has a built-in popup-blocker.) This webpage from HP also provides good steps for troubleshooting CD/DVD drive problems in Vista (should work with 7 as well, since they share the same driver platform and have a similar UI).
At this point, I'm not that the problem is Windows 7's fault. If at all possible, get someone who knows tech stuff to troubleshoot it in person. One of the best things to try now would be to install the CD-ROM drive in another PC and see if it works.