Audio is data, yes, but it is a different format, requiring different drivers to be installed.
First...
1.Open Device Manager.
2.Right-click your CD drive, and then click Properties.
What is the status of the "Enable digital CD audio for this CD-ROM device" check box?
If it IS checked, then you may need to (rollback or) update your audio chipset drivers.
Again, from device manager...
1. Do you have any icons with Red or Yellow warning symbols? If so, these indicate problems.
2. Under Sound, Video, and Game Controllers, check each of the areas dealing with audio.
Try rolling back or updating each of them.
If none of the above work, then I too would go with TMagic and Cpt Cranky!
I just like to check the on-board possibilities for solution, before jumping to the hardware replacement.
Geeks.com has some PATA/IDE devices for about $15 plus shipping.
If you have a MicroCenter near you...
http://www.microcenter.com/single_product_results.phtml?product_id=0325027
Other stores may also have them in stock.