Hard drives should be on the same IDE channel, i.e. Primary master and Primary slave.
Secondary master should be your CDRW and secondary slave should be your CDROM.
If you put your ATA133 drive as primary master and your CD/DVD/CDRW as primary slave, you slow that IDE channel to the speed of the slowest component attached. Your DVD peobably runs, at max, @ DMA2, so if you put it on the same IDE channel as your fast hard drive, you effectively limit your hard drive to DMA2 as well.
Putting hard drives as masters and optical drives as slaves will limit both IDE channels.
A lot of people are saying that they were told that the CDRW should be set on secondary master, which is probably the best thing in a SINGLE HARD DRIVE ENVIRONMENT, but overall system performance should be based around your hard drives, not optical drives. Hard drives run the entire time your computer is on, and emphasis should be placed there, rather than on the optical drive that is only used occasionally to burn a CD or watch a DVD. (I prefer tMoustch DVD's on my TV anyway...)