The question you ask isn't as simple as saying yes or no. It depends on what you are running in your rig, and some other factors.
IDE (PATA) hard drives generally have a max throughput of 133MBps, SATA is capable of 150MBps, SATA2 at 300 MB/s, and SATA3 at 600 MB/s. Higher RPM drives will alter these speeds, as well.
Could you ever max out, or bottleneck, any of these forms? Running that Pentium 4, I would say probably not. However, I would research into this via the internet, ask a local pc shop, or wait for a more educated response.