I tried connecting the SATA drive in the 1st SATA port, with the same results as the original problem, (staying on Detecting IDE drives forever), then in another port (I think the 3rd/2nd) and the computer POSTed, but didn't detect the SATA drive.
I think what smeezekitty says is true, the control circuit on the SATA drive is "fried".
It looks like another thing I'm going to have to get when I go down to my local computer parts store next Saturday.
(Along with an Intel Core 2 Duo E7xxx/E8xxx and a ATI Radeon HD 4870)
[EDIT: What are the normal voltage levels for a PSU? Speedfan shows Vcore1 as 1.34v, Vcore2 as 1.81v, +3.3 as 3.38v, +5(1st) as 5.11v. +12 as 2.37v, -12 as -16.02, -5 as -8.48, +5 (2nd) as 5.27v, Vbat as 3.12v and VCore as 3.00v]