It is actually what data recovery specialists do. However you couldn't do it yourself. The hard drive has many failsafes and protective things about it. Its not the same as your simple solder deal or switching of motherboards etc... messing with hds is usually done in a sterile environment.
Your best bet, is to actually get another hard drive, install your preffered operating system on it. Then plug that IBM drive in, as a slave drive, and see if you can pull the files off it, as opposed to trying to boot to it.
Switching board of an HD yourself, would be considered rocket science if you do not have knowledge in that area.
The hard drive is a critical component and even I myself with some years of IT college under my belt, would not attempt such a thing.
Usually you can get another drive, and boot to the OS, and then grab your files off that drive. Its your best bet.
Data recovery aside from the above, is highly expensive usually. I once had a drive with only 20 word documents or so on it, and the data recovery company wanted 500 bucks to get them off.
Yea right...
Sometimes data loss can be a good thing, can you get those items back? It helps you refresh the files you do have in the sense that, lots of us keep files we THINK we need, but dont really need (unless for work), and its a good method of cleanup.
Wish I could help more, but thats about the extent of an answer to your question.