Is your Hard Drive under warrenty still? If so, and if you can't get the data back (or it's waaaay to expensive) then contact the manufacturer and send in the bad Drive for a new one. Aside from shipping of the bad Drive, there' no other cost to you.
From the description of the noises it sounds like you had the same thing happen as I did Last year with my 13 Gig Quantam Drive. A trip to the Maxtor (who bought out Quantam) wesbsite and I had authorization to swap the Drive for a new one.
Don't pay for a new Drive if you don't have too
