i'm not sure if you have a plug to plug either player into your sound, but if you do it will be 4 pins wide, 1 pin deep. and it doesn't matter which order they are plugged in. basically all those do is take a digital sound output and plug it into a digital input, so if it's not plugged in, no sound. so to get soound from both you need to connect both. one thing to note tho is this only affects audio cds AFAIK, so your dvd playback should be fine and of course all your mp3s and such should be fine.
what Cable select does is tell the bios to determine if the drive is a master or slave be looking at where it is plugged in on the IDE cable (the end plug is master and the middle is slave). it doesn't always work for me tho so i always excplicitly set which drive it is anyways.
EDIT: in response to your edit (

) if you explicitly select if a drive is master/slave then it doesn't matter where you put it on the cable