regarding slave if master is reformatted

If I reformat my master hard drive, new Windows yaddayadda, will I still be able to access the slave(storage) drive without any difficulty?

you should. it doesnt make a difference.

As long as you don't reformat the slave by mistake, then you won't have a problem.

But, when you reformat, make sure you disconnect your slave first. That way when you reinstall windows, there won't be a chance of your slave drive ending up as being the C: drive and your OS drive as D:

Also, if you have a internal card reader (usb) disconnect it before re installing your OS.

I have had trouble with this before. Ensure that it's not a dynamic partition.