Bios won't read cdrw drive?

Yes, CDROMs do not last forever but you could test it so you know if you can boot from CD from that drive. For day to day use your SATA CD should work fine except for booting from CD.

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To throw one more thing at you after installing Windows on the new HD you have the option of using your old HD as a slave drive to give yourself some extra storage. (That is assuming you don't want to keep the IDE DVDROM connected or you can scout up an extra IDE cable).

 

Good job, guys - way to hang in there!