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Can anyone explain shortly: Having one hard disk or two, is there any noticable difference when editing video in Adobe Premiere (in speed, or whatever...). And if there is, do I plug secondary HD on primary IDE channel as a slave unit. Thanks in advance.
Since IDE master/slave drives compete for the same controller time, that won't help any. At the least they'd need to be on seperate IDE channels to be meaningful. You might get some improvement that way...I don't use Premiere, but for Photoshop you can move the scratch file to a different drive for some improvement.
Faster CPU or more memory (depending on what you've got now...system specs?) is likely to be much more significant.