You only have one controller on board the motherboard. That controller has two channels (one physical port each), and each channel can carry two devices, so you can have a total of 4 devices. However because IDE is a master/slave design, you can lose some performance when you put more than one device on each channel.
You can install an expansion card like the Promise controller and thereby add the ability to run another 4 devices (one controller, 2 channels, two devices per channel). So then you'd have the ability to install 8 devices. The expansion card has an advantage though in that it only uses 1 IRQ, whereas each channel of the onboard controller uses an IRQ. So in order to save IRQ's, you would want to use the expansion card first, and disable one or both of the onboard channels in order to stop them from using an IRQ.
So, install as many of your hard drives onto the Promise controller as you can, then use one onboard controller channel to carry two more devices, and disable the other one to save an IRQ. However if you can spread the devices and use one device per channel, you can get a little more performance, but you'll use up a total of 3 IRQ's.
Also, you can't use an expansion card as a boot device if you have a hard drive on the onboard controller's primary channel (possibly also won't work if you have a hard drive on the secondary channel, I never tried that). The BIOS looks for a hard drive on the onboard controller first, and will try to boot from that. If you're using an OS that doesn't have to be installed on the first hard drive (Linux, Win2k) then it can be installed on one of the devices on the expansion card, and the boot record on the hard drive on the motherboard controller can still point to the other drive (however that might take a reinstallation, I don't know).