I am, as ever, going to disagree with some of the above posts! Not to be difficult you understand, just because it's my opinion.
From my direct experience with the technology involved as an IT consultant, I understand that there is no number for the answer to this question without more specific details and controlled tests.
Re-writing and writing to a CD-RW is more flawed than either a commercially produced CD or a CD-R. The reason for this is that the CD is only slightly burned by the drive. A commercially produced CD will have the layer of shiny metal (usually aluminium based) burnt entirely through. A CD-R will scorch a heavy mark on it. A CD-RW will scorch a slight mark and then subsequently attempt to erase it. Quoted manufacturers' estimates are based on optimal situations with controlled environment which you will not realistically achieve at home.
The actual answer is going to be dependent on the CD-RW media you purchase and the CD-RW drive you use. You are, to a great extent relying on luck with this technology and the results will vary from disc to disc. Some discs will be inoperable after one RW and some may last for quite a long time. I would wager, with confidence, that nobody in a domestic situation could make a CD-RW work for 1000+ iterations.
To guess your motive for asking this question, I would recommend not using CD-RW technology for anything more than incremental backups. Depending on the number of photos you take and their value to you, I would recommend using CD-R for weekly or monthly backups. If the photos are extremely valuable, then consider using multiple backup media such as a separate computer or tape drive. FTP the images to a third party for extra assurance as well.
This sounds a little OTT, but assuming you have a friend with a computer who is vaguely reliable, I would suggest swapping CD-R discs with them on a weekly or monthly basis. Copy each others' data from the CDs to your HDD and you'll both be safe as houses in the event of a nasty HDD crash/failure.