Dave,
Just one small correction, RELOAD holds a few different (although similar) projects: IMS MD and CP editor, Learning Design Editor, Learning Design Player, SCORM Player, etc...
However, the one that allows you to create learning objects and/or SCORM packages is the IMS MD and CP editor:
http://www.reload.ac.uk/editor.html
The LD editor (although it uses IMS MD and IMS CP) is used to create Units of Learning or learning sequences. But if you want to create learning objects, you need to use the IMS MD & CP editor (follow the link above).
Thanks
Ernie