It's not really a matter of getting better performance in the way you're meaning, it's simply a matter of configuring the system in an optimal manner for audio recording.
However, if you disable auto insert notification on your CDROM drive, which I recommend, then it really doesn't matter where you stick it. (this disables windows polling the drive constantly to see if a disk has been inserted, which may or may not cause hiccups if that drive is a slave to your audio drive)
That aside, you should configure the system such that it works well for how YOU will use it.
Scenario: if you plan on using the CDROM drive to transfer tracks and such to your audio drive frequently, or to rip audio tracks to your audio drive, then it would be best to have the CDROM drive on the same channel as the OS drive. Copying large amounts of data from one drive to another drive on the same channel will be slower, try it.
Scenario: you plan on installing lots of different software from CDROM's, or play lots of games that require the disk to be in the drive at all times. In this case, it might be beneficial to have the CDROM drive as a slave to your audio drive.
Scenario: your CDROM drive is actually a CDRW. CDRW's can get very picky when your trying to burn data located on a drive on the same channel...especically the faster ones. In this case, you should pick a drive that will always contain the data you want to burn and stick the CDRW on the opposite channel. This is my getup, and I have the CDRW on the same channel as my OS drive. I have a partition on my audio drive used for "junk" and that's where I stick everything when I need to burn (unless I'm just buring audio files, which are already on that drive).
Slackmaster 2000