Some SATA drives include a PATA-style 4-pin Molex connector for use with power supplies that lack the SATA power connector.
Adaptors are available to convert a 4-pin Molex connector to SATA power connector. However, because the 4-pin Molex connectors do not provide 3.3 V power, these adapters provide only 5 V and 12 V power and leave the 3.3 V lines disconnected. This precludes the use of such adapters with drives that require 3.3 V power. Understanding this, drive manufacturers have largely left the 3.3 V power lines unused. However, without 3.3 V power, the SATA device may not be able to implement hotplugging as mentioned in the previous paragraph.
Source: Wikipedia
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So, basically you only need to use a SATA adapter if you want your SATA drive to be hot swappable? I've actually tried hot swapping before using only molex and it worked fine, so I'm guessing it's only a precaution.
Still confused though. My Raptor is molex only, fair enough as it's the GD version, but I bought a WD SATA II 320GB a few months ago and that was still only molex. I would've thought that'd be SATA power only.