Why, just format the drive using HDToolBox with a nice partitioning (don't forget to make it bootable and set the bootpri higher than the harddisk) and FFS or SFS, install the filesystem into the RDB, install Poseidon in the Algor FlashRom using the fine graphical drag&drop Luciferin software and here you go... Theoretically.
If it does not boot from the USB card reader (because the drive is not mounted early enough), but it does appear on the workbench, try increasing the startup delay in the Trident prefs.
If you get some DOS requester while booting, remove PsdRestart from the FlashRom. Should help.
Enjoy!