I had a similar problem when I first got my p4vte, thought I had fried the blasted thing.
Try This:
Enter the Bios and make sure your IDE controllers are set to the proper settings, "Auto" should work for most devices. Although in theory setting it up for specific device will speed up your boot time a little.
What happened with me is I hit auto detect when I had no devices installed resulting in all channels registering as "Not Installed" preventing the Controllers from detecting any devices.
Hope this helps
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