|"The Device Manager does not list any channels under IDE."|
It should, if it's the same situation as in Vista.
I'm assuming you opened up the IDE category - it's closed by default.
If you installed Windows 7 from a regular DVD, did you install the drivers for the system?
If you didn't, Windows doesn't have enough information about the capabilities of the mboard's main chipset. In that case, both your hard drives and optical drive(s) may be running a lot slower than they are capable of.
Whenever you load Windows from a regular Windows CD (or DVD) from scratch, after Setup is finished you must load the drivers for the mboard, particularly the main chipset drivers, in order for Windows to have the proper drivers for and information about your mboard hardware, including it's AGP or PCI-E, ACPI, USB 2.0 if it has it, and hard drive controller support. If you have a generic system and have the CD that came with the mboard, all the necessary drivers are on it. If you load drivers from the web, brand name system builders and mboard makers often DO NOT have the main chipset drivers listed in the downloads for your model - in that case you must go to the maker of the main chipset's web site, get the drivers, and load them.
If you have an additional drive controller on your mboard, other than the one built into the main chipset (many recent mboards do), you must install the drivers for that too.
If it's an IDE DVD drive, if it's a DVD combo drive (reads and burns both CDs and DVDs) that is capable of DVD-R or DVD+R 16X or greater burn speeds, it must be connected to an 80 wire data cable in order to reach it's full ratings.
The bios Setup may or may not have settings that determine whether the drives run in DMA (UDMA) mode - you may not see that in a brand name system bios version - if they're there, the DMA (UDMA) support is always enabled by default for all drives - if there's nothing like that, it's already enabled by default.
If you installed the mboard yourself...
80 wire IDE data cables must have the proper end connector connected to the mboard. Usually it's blue, but in any case it's the one farther from the middle connector on a 3 connector data cable.