Yes that looks fine as it appears to be the older style 40 wire and 40 pin IDE cables. Newer type IDE cables carry ground wires between each signal wire and are not truly 40 independent connections, but rather assume you are going to have a common ground connection wired to many of the 40 pin connector pins. This bit me once when using a '40 pin' IDE cable as a jumper cable between my 5x5x5 led cube and the electronic board that interfaced to it.
Good luck;
Lefty