I'd recommend you do both as I'm one of those who like redundancy in backups & because you're talking about 2 different things.
The Lenovo recovery disks will allow you to recreate your computer setup as it was when it left the factory/you received it, on your current HDD or any replacement HDD or SSD. That includes the OS, any other software, utilities and the drivers, (and any bloatware). Be aware, recovery disks are available from Lenovo for free plus shipping, (usually less than $10.00), during the first year of ownership.
These might be used, for instance, if you ever wanted to sell or give away your computer. You could uninstall all your software, (so you could reinstall on your new one), then restore to factory without any of your personal information on the drive. You also have the ability to do this directly on the drive as well, assuming that you still have that restore partition available and in working order.
Macrium will make an image of your HDD to include any or all partitions for restoration onto your current or any replacement drive. Restoration will put your partition or entire drive back to the date of the last image. THIS CAN INCLUDE THE PARTITION WITH THE RESTORE TO FACTORY IMAGE, but it does not have to.
Where this might come in handy is on systems that only allow 1 set of recovery disks to be burned. What happens if those disks are lost or become corrupted? The answer is to make an image of your drive, burn the disks and restore the image. If you ever need to you can burn another set of recovery disks.
As to the media for the Lenovo recovery disks, technically you should use DVD+R for this purpose. While DVD-R will work in almost all cases, it's used mostly for music/movies etc because it is accepted on the widest array of players. I like to think of it as DVD+R for data and DVD-R for music.
For Macrium, make SURE you create the Macrium recovery disks, both WinPE and Linux.