Hello Wiley,
I have removed my long posting.
Short answer: Yes.
The internal disks are on one channel, the external connector is the second channel.
The [url=http://sunsolve.sun.com/handbook_pub/Systems/SunFireV440_R/spec.html]Su n Fire[tm] V440 Server, RoHS:YL: Hardware Specifications[/url]are misleading. Indeed there is only one channel for the internal SCSI disks (the DVD drive is IDE), but the Ultra-4 SCSI controller is dual channel.
InfoDoc 21216 from the Archived Collection lacks the information about the second channel too.
Anyway you could have saved me and you a lot of time if you glanced over the [url=http://www.sun.com/products-n-solutions/hardware/docs/pdf/816-7728-10.pdf] Sun Fire?V440 Server Administration Guide[/url].
Michael