Just my 2 bits.
I will still avoid sharing a HDD with a CD-ROM drive if at all possible. Firstly, your system chipset must support independent timing in order to support two devices of different transfer modes on the same channel, no matter how new the CD-ROM drive is.
Secondly, HDDs are IDE (or EIDE) devices while CD-ROMs (even the newer ones) are ATAPI devices (ATAPI is a different protocol which uses a much more complicated command structure). This can lead to a performance degradation when sharing the same channel (however, I suspect mostly only when the CD-ROM is in use, though I have not confirmed this).
On SME 5.6 systems, DMA is activated by default if the chipset is a supported one. If the chipset is unknown (like the VIA VT8235), then DMA will not be activated unless you either patch the system or upgrade the kernel.
The other reason for not putting your mirror drives on the same channel is the fact that in certain failure scenarios, if the master drive fails, you will also lose access to the slave drive (not very useful for fault tolerance).
Kelvin