After reading the FAQ's and installation guide for my new 45GB Maxtor 7200 ATA 100 drive I installed the new cable, configured the new drive as Master, my old ATA33 as Slave and it's working great.
Although the cable does have additional wires installed they are inter-signal grounds and do not carry any new signals from the original ATA (IDE). The connectors are the same number of pins as the ATA33 and both drives are working fine, the new drive is able to utilize 100% of the ATA33 available transfer rate and since 33MHZ is the Max burst speed, that's the limit due to the interface. I suspect that if I had an ATA100 controller both drives would still continue to work fine but the faster drive would be able to use the faster burst transfer rate of the ATA100 controller while the slower ATA33 drive would run at its normal ATA33 speeds.