Although I've been super busy lately with work (healthcare which is a bit mental atm with coronaschenanigans), I did just manage to bodge together a frankendrive. I haven't tested it out in the iMac chassis itself yet but I'm hoping it will work fine in there as the slot lines up with the original.
Here is the SATA blu-ray drive sat above the original unaltered iMac DVD drive:
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I then opened the iMac drive up and removed the guts. There are two tiny screws on the outside of the drive that you'll want to keep - the lid of the drive opens up like a car bonnet with them taken out (pull the edges at the front slightly to allow it to swing up). Everything inside, you can throw out. There is one raised bump near the front of the inside of the case that I needed to flatten. I used a hammer to bash it down but I'd advise against doing that and instead, just dremmeling it out in place. When you hammer it, it doesn't make it go flat, it just makes it go down so you end up with a bit of a bump on the underside. It should be fine for my purposes though anyway.
To keep the drive in place and at the right height, I used the same mouldable plastic as I used to mount the LCD screen - it's readily available on Amazon. You put the granules in boiling water, they go clear and stick together and then you can mould it to whatever you want. I smooshed it in and then put the drive on top. It's a bit ugly but it works and it means you can line things up with sight and feel rather than careful measurement of hard to reach areas.
Here are the insides of the drive after this:
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It's just a standard blu-ray SATA slot loader drive. I got a cheap external USB case for optical drives (actually one meant for tray mounting as it was easier and cheaper to source) and I popped that open and removed the SATA->USB adapter. That's then plugged into the drive and routed out through the existing hole at the back of the iMac drive's case.
Once all close up, here's what it looks like:
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I've tested it on another mac and it works fine:
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I'm getting to the point now in my project where all that's left is basically to put together all that I've done before in a sturdy manner, solder some wires instead of using little jumper like cables, mount it all together and then clean the case up. It should all be relatively simple but it's finding the time that's the hard part! All of this other stuff I can jump in and spend 20 minutes on and make a bit of progress but now I need to spend a couple of hours wrapping it all up!
I'll keep you guys informed. I thought this drive bay approach might be of use to you guys working to keep the original iMac's screen though anyway as this all sits below it and might be useful if you want to connect an optical drive to your other hardware.