No problem, this one of the few things I can help with, so happy to help! Anything with regards advanced reason features, building crazy combinators or advanced music production tips, then no, am still a newb and come here to learn all that myself!
Ok, it sounds like from your original post, that they will provide you the Wavs but on a CD? This bit is important as it will determine how you would deal with the CD they give you, if they literally mean they will burn the Wav files onto a Data CD and send it to you, then you are gonna be fine. As you would literally use Reasons browser (assuming you using R8 ir R9?) to browse to your CD/DVD drive and drag and drop the files from the Reason browser into your sequencer, as you would anything else (instruments, effect, samples etc) in these versions of Reason.
However, if they burn the disc as an audio CD, then this would be a different story. This would require you to use another program to convert the audio to a wav file, then you would be able to load it into reason as you would any sample. If you were to try using a normal CD (assuming you mean audio CD or album) then you would see what I mean I think.
As for loading MP3 into Reason, I think you can actually. Was going to say I never tried but I seem to recall a friend of mine, loaded one of my tracks I had exported into an MP3 into his Reason, so he could come up with a piano melody for me and I had not brought the Reason file round to his, only the MP3. Could be wrong though!
Edit: Thanks for confirming this Southgate
Sorry if this reply not cleared anything up, am at work and it a bit crazier than normal today and am constantly told I am typical man by my female colleagues (specifically I am rubbish at multi-tasking apparently lol).