Quote James Perrett:the best way is prob to do both. Put it in your data fields and also submit the info to gracenote. How involved/expensive is gracenote? How does one get a serial number? Most of us are plugging away in home studios.
Things like track titles and artist can be added to the CD Text fields of a standard audio CD - but again, iTunes and Windows Media Player will ignore this and just look in the online Gracenote database.
Gear list: If you can't find it, grind it