click here for one opinion. As has been discussed here many times before, it is generally better to keep the two devices that will most often be transferring information between each other on separate controllers, rather than master and slave on the same controller.
If you were routinely copying from your HDD to CD-R, keep them separate. If you were routinely copying from your DVD to CDR (e.g. backing up music CDs), then keep them separate.
Whatever device you put on the same IDE controller as your HDD will probably slow your HDD down. For ultimate performance, buy an IDE expansion card, and put each device on a separate IDE channel.
Trial and error is often very useful with this sort of setup :)
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