You're partly correct jimmygates. The IDE standart can only read/write from one drive at a time. So if you are reading/writing to both drives on the same IDE channel the computer has to switch between the drives all the time, degrading performance. But that does not result in your faster drive running at your slower drives speed, only that it will be slowed down during haevy read/write on the slow drive.
Ultimately, this can be completely avoided if you put the slower disk om an other channel (cable) than the fast.