ThinkPad floppy drive woes

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My ThinkPad 390E has something wrong with the floppy drive subsystem.  When
trying to access a floppy in Windows Explorer an error message pops up and
says the requested operation cannot be completed because of an I/O device
error.  After researching this issue on the Internet I bought a used
replacement Combo Bay with floppy drive and CD drive on eBay.  Installed the
replacement bay.  Exactly the same problem.

Oddly enough the computer will boot up from the floppy disk drive.  Also
after an extremely lengthy delay Windows Explorer will report the used and
free space on a diskette in the drive by clicking on properties in the right
click menu.

Device Manager in Windows XP Pro says all is well, but obviously it is not.
What do you think should be my next move?  There is something inside the
machine called a Combo Bay Interposer Board.  Could it be causing a problem?

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