Personally, whenever I see that message, I figure there was a serious problem on the harddrive that caused it, so to be safe, I just bought a new harddrive and started from there. If you reformat the current drive, you lose all the data, but if you add a new drive, SOMETIMES you can use the old drive as a slave, and can read and copy the old information. I mention this because I don't know how important the existing information on that drive is to you.
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