Your current computer just won't cut for Vista. You'll pretty much need a new PC, if you want to make full use of what Vista has to offer. . Stick with XP or even 2000 for now.
If you have only 1 hard drive and 1 cd-drive, then instead of sacrificing your CD-ROM, set the 2nd hard drive as slave (to learn how, Google is your friend) and connect it to the unused connector on the Primary IDE cable. This will be the cable that connects to your first hard drive. Then you will still have use of the CD-ROM. The IDE interface will allow you to connect up to 4 devices (i.e. 2 hard drives and 2 cd-roms, or 3 hard drives and 1 cd-rom, etc.)
If this is a brand new hard drive, then it will need to be formatted before Windows can recognize it as a HDD. I'm not familiar with WinME for formatting, so again Google for the steps:)
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