I am dealing with that problem right now, too. Mine failed one day for an hour or so, then it later stopped working altogether. I took my drive out and when I spin it, it sounds like a record scratching. Not reassuring... It's currently in my freezer in a bag.
Anyway, the very first thing I'd do is boot into Linux and salvage whatever can be salvaged. After that, run various NTFS repair tools to see if you can get Windows to boot again.
Some general tips:
- Be smart enough to back up your stuff at the FIRST sign of failure. Don't kid yourself and say, "oh, maybe it won't fail." Do it anyway.
- I read on the 'net that you can stick it in the freezer for 2 - 24 hours if it fails. It shrinks the parts a bit. If this works, back up your stuff immediately.
- I also read that, as a very last resort with a failed dtive, you can tap the drive or drop it 6 inches to hopefully activate the actuators.