if the A: drive and floppy icon show in windows, the drive is recognized and is on in the bios.
Not sure if the mobo detects there is a drive attached via a connection or not, so if the cable was backwards, it might still say there is drive, but it won't recognize anything, which is why you get Please insert... message.
Floppy drives do go bad, but I still have 400k 3.5" disks from my old Mac that read fine. Put in a new disk (LOL) and try to format it if you think the disks are the problem.