I would replace the drive instead of paying $50 for a new cable. For that price, you can get yourself a top of the line CD-RW drive. Having one drive to do disc to disc copying shouldn't be a problem. Providing specs of your computer would help us better answer this question though. With a 48x CD-RW drive, caching files to the hard drive and then copying those back to CD's should take about the same time it took your old Sony USB drive to do a similar disc to disc copy. As to a guide on how to install a CD-RW drive into your HP machine can be seen
here. However, installing a CD-RW drive is really easy and can be successful done by just looking at the instruction manual that came with your new CD-RW drive.
In addition, since you live in the United States, there are two
very hot deals going on for drives based on the Lite-On LTR-48246S (48x24x48).
1. CompUSA has an in-store special of a TDK 48x24x48 CD-RW drive for $39.99 After In-Store Savings and a TDK Mail-In Rebate.
Hot Deal Came Be Found Here
Review of the TDK Drive Can Be Found Here
Uses TDK Firmware instead of Lite-On Firmware.
2. Office Depot has the Sony 48x24x48 for $39.84 after 2 mail-in rebates.
Hot Deal Can Be Found Here
This drive is essentially the same drive as the TDK 48x, but uses Sony firmware instead. If you read the review for the TDK 48x24x48 CD-RW, you have both the TDK and Sony drive covered in terms of drive capabilities and performance.