The S-ATA ports on the IT-7 2/2-like every other S-ATA capable board I know of-is actually a S-ATA adapter sitting on top of a conventional ATA-100 or 133 controller.
You can't get true S-ATA150 support until that new protocol is incorporated in the northbridge of the chipset. For Intel systems, that means until the "Canterdale" boards begin shipping at the end of this month.
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