IDE runs off the PCI bus on a socket A system like yours.
You don't need to worry about bogging down the PCI bus.
Optical drives and sound cards will not slow down a HDD on a seperate IDE channel. If they share an IDE channel then they will definetly slow things down as they wait on eachother to take turns sending data.
I think the bus has a much higher capacity than the hardware can put through it, but dunno really.
Basically, you want every device to be running on a dedicated channel ideally and you can disregard other PCI devices. If you have to use multiple devices on the same channel, you will be best off in most situations to put multiple optical drives on one channel, or let a data backup/storage drive share a channel with an optical drive. Your OS should always have a dedicated channel pretty much as that will make the largest noticeable difference.
I'm not sure off the top of my head which devices go through which busses, but that isn't really something you need to concern yourself with for performance reasons... If you are just curious thats different.