No (but kind of yes too), the adapter you have linked to plugs into the side PCMCIA slot; ideally you need a 2.5" IDE to compact flash adapter. This will plug into the existing HD space and be 100% bootable and faster than the PCMCIA adapter.

Keep in mind that the PCMCIA --> CF adapters are usually bootable (sometimes there are quirks), but you will probably need to have something in the 2.5" HD space.

JB