The CDs coming out of the DVD-Rom of my Time PC are very hot to the touch, and I am concerned that something is heating up more than it should. I thought I could smell something unpleasant recently, but that smell has disappeared. I Jack
Some drives operate hotter than others, but it's a danger sign if a drive starts running hotter than usual, and overheating can result in Windows "losing" the drive. You could try taking the case off your machine and making sure the fans and vents are not clogged up with dust.
A smell that wasn't there before -- especially the strong, acrid smell of burning insulation -- is a much bigger danger signal, and would make me want to swap out the part that's overheating. This could be the DVD drive, but make sure it's not the power supply, which could be next to it.
Since you won't get any support from Time, which has closed down, consider having the machine checked by a local repair specialist or small dealer. It's better than living with a fire risk.