The performance loss won't be enough to matter, as it will only affect the data burst rate, not the average, sustained data transfer rate. Typically, you won't notice the loss of performance unless you are using the CD-ROM and attempting to transfer a fairly large block files from the hard drive to another device at the same time, which is more an IDE limitation than anything else, as only a Read <i>or</i> a Write operation can occur when accessing a device on an IDE cable ... not both at once.
Nearly every chipset from 1997 and since supports UDMA/DMA devices running at independent speeds on the same cable. The exception is a PIO-Mode only device, like a ZIP drive. By default, PIO-Mode devices force a DMA device to operate at PIO-Mode speeds, so placing these kind of devices on the same cable is a bad idea.
Toejam31
<font color=red>First Rig:</font color=red> <A HREF="http://www.anandtech.com/mysystemrig.html?rigid=17935" target="_new"><font color=green>Toejam31's Devastating Dalek Destroyer</font color=green></A>
<font color=red>Second Rig:</font color=red> <A HREF="http://www.anandtech.com/mysystemrig.html?rigid=15942" target="_new"><font color=green>Toey's Dynamite DDR Duron</font color=green></A>
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<font color=purple>"Some push the envelope. Some just lick it. And some can't find the flap."</font color=purple>