Yes, as Gregory says there are a few cards out there. I am using the old (ATA/33) TurboMax card in my PowerCenter 150 (which is essentially a 7200) and it works great.
It's bootable, it's fast, it's cheap.
The only glitch with running PCI IDE/ATA cards in the 7200 is that you can't play audio/video (that is, say, MP3/QuickTime) from the IDE drive without serious stuttering and dropouts, due the motherboard architecture being a bit screwy (and not designed for IDE in the first place). I've kept a SCSI drive as my boot and use the IDE drive for data and apps, making sure to put my mp3s and QT content on the SCSI. Works fine.
You should definitely check out the drive database at www.xlr8yourmac.com,
it's full of entries from folks trying out every conceivable drive/Mac combo.