You didn't download the 0.3.3.0 release but the 0.3.4.? there. The newer releases that come after the 0.3.3.0 are not even platform independent which is what is needed there. Plus the newer live versions see the new start x automatic graphics configuration tool for Linux not MS use there.
With the 0.3.3.0 release you see several prompts where you simply press the return/enter key at each one to see the main gui load. Don't wonder off or you will have to reboot all over again. The 24bit default not 32bit is another thing to leave unchanged since that's Linux not Windows there.
The 1024x768 default resolution will allow you to see all of the tabs and buttons while 1280x1024 option pushes to much off of the screen unless you are using a larger 20" to 24" lcd there.
The jumper settings have to be changed when reversing the cable position each drive is presently on. You set the 40gb as master with the 160gb as slave and reverse order without making the needed change there. You evidently forgot to set the 160gb as master 40gb as slave when doing that. That's probably half of your problem there.