Both would require you to do some very advanced circuitry. The USB one would require expensive chip programming devices, and a lot of code writing. The parallel one might be more simple, but your throughput would be limited to about 1.5 megs per second... much slower than ide's 133 megs per second... transfering stuff over that would be slower than transfering files over ethernet... even wireless network.
I understand your wanting to learn about stuff like this, but without an engineering lab at a college (if they even have the stuff) you probably would not be able to get this done unless you have a few thousand dollars and lots of time on your hands.
edit: if you actually need one I've found several in the 30-40 dollar range. Check out www.fatwallet.com and go to their forums... search for external enclosure or usb harddrive
