As I said before, I use the exact adapter you've got. I've tried with a 16mb card and a 64mb card. This is my experience:
With CF as master on with no slave, works fine.
With CF as as master and a hard disk as slave, CF doesn't work at all, doeasn't show up in hdtoolbox, however the slave hd works and shows up fine. :-?
With CF as slave and hard disk as master, both work, both show up in hdtoolbox, no problem! This is how I use it.
When I tried to start idefix with a CF installed ANYWHERE on the IDE chain idefix would not start and would hang the machine. Other people have posted on this board with the same results: idefix appears not to wotk with a CF on IDE!
So I expect if you want to set up CF as master with CDROM as slave and use idefix, judging by my experiences and the experiences of others I'd say your chances of success are slim indeed.