Yeah, but so far I dont have any hard problems after using XP for 3 years.
Magwel, I usually had those problem when I was using Win 98. I receive that kind of message too. There are maybe some ways to fixing it, if there are experts who can do it.
As far as I know, there are not solution at all to put up the HDD correctly. Try format the HDD again and I think you'll be missing some error clusters on the disk inside. So you can only use the available clusters left over.
Buying a new one is an option but anyways, I'm sure there are important files in your HDD

But why not, keep it with you.