jackl,
NickR
I'm sure the advocates of "must be hardware Raid" cannot but scream at your "both disks on one cable" policy

But as NickR says... "measuring the stuff does prove there is little speed difference (if any) in master/slave settings with todays ide controllers/disks"
What does remain is the risk you run when the controller partially breaks...
your system will no longer boot if both HDs are on the same ide channel and that channel goes bad...
Sort of defeat's the whole Raid1 idea - IMHO that is.
While I happily put disks on master/slave for a raid5, I prefer the stuff to boot under (almost) all circumstances so it is HD1 IDE0:M and HD2:IDE1:M for my SME Raid1's.
Regards
Reinhold
P.S.: No I never had a dead controller where only one channel broke ... the only one where I had a "single channel failure" turned out to be a bad solder joint!