First off, yes it is possible to connect any type of IDE drive with any other type of IDE drive, for most systems, though, the transfer rate will be that of the slowest device on the channel...that means if you connect an ata100 hard drive (master) on the same channel with a PIO2 CD drive then the transfer rate of the hard drive will be the same as the CD. Now some of the more recent MOBOs do support independant device timings for the IDE channels, unless your manual states that it does assume that it doesn't. And ATA100 (and 66, too) need the 80 conductor cable (it still has 40 pins--the extra 40 conductors are all ground wires), but any IDE device should work with either cable, just not at maximum capacity ( in the case of a 100 device on a 40 conductor cable)
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