Helpful post, there tripp 17...
Leepark, you'll do fine with both drives on one IDE port. Performance wil be indistinguishable from 2 ports and you'll save on cable clutter. Just set one to slave and the other to master, ensuring that the master goes on the end of the cable. Also ensure that the proper end of the cable (usually the colored one) goes to your motherboard. Either drive could be the master drive, it makes no difference in performance.
As a side note, if you were to use 1 port per drive, they would both be set to master.