actually, the newer SCSI controller will be able to reach indenpendent device's maximum speed.. but your 2940UW didn't support it, in fact, your 2940UW is not even u160 capable anyway, you are running at UW speed, which is 40MB/s max for the SCSI bus on the wide connection.
Edit:
forgot to add that you can safely use your 12x10x32 Plexotr in the current setup, since Plextor is Ultra SCSI interface (20MB/s on narrow bus), which is the same speed of your u160 drive in the current setup(40MB/s on wide bus).