The sata-to-esata cable can provide the shielding the spec calls for, but not the signal voltage:
eSATA vs SATA
Minimum transmit potential increased: Range is 500–600 mV instead of 400–600 mV.
Minimum receive potential decreased: Range is 240–600 mV instead of 325–600 mV.
However, the setup may work if the total cable length is short enough, and signal loss going through the two adapters and total cable length meets the minimums required. It may work, and it may work sometimes and not others.