/etc/rc.sysinit, for no good reason, restricts seting of ide drive paramters to media type "disk". Often a "cdrom" will require the exact same treatment (for example, to disable DMA). Something like this is required: <if [ "$hdmedia" = "disk" ]; then --- >if [ "$hdmedia" = "disk" ] || [ "$hdmedia" = "cdrom" ]; then (note that you actually have to move it a little later, after the device is mounted).
A similar tweak will be in 6.64-1; it will set parameters for any media IFF there is a specific config file for that device.