Yes. On the top menu in Picasa is 'Create', click that and an option 'Video...' is available. When you click that a new tab appears. You can add pictures, set their time to remain on screen, change the method of changing to the next picture, add music and so on. I found it intuitive to use and made some quite good amateur slide shows using it.
I did find I wanted to string several music clips together and used another simple and free program called 'Audacity' to make one continuous sound track. In Picasa only one track can be used so using Audacity I made one continuous mp3 of the required length by joining all the audio clips I wanted together and used that.
It is simple to burn the finished product to DVD and it plays on a normal DVD player. Audacity is also a free program.