I found a program called HD Tune Pro and ran it. Here is a summary of what it reported:
C: Drive, Crucial M4 128 GB, Benchmark Tab
Avg - 484.9 MB/s
ACS-2-SATA III
UDMA Mode 5
UDMA mode 6
D: Drive, Hitachi 1.5 TB, Info Tab
ATA8-ACS - SATA III
I am going to assume that Speccy is reporting SATA II incorrectly.