It's definitely worth trying marsmimar's suggestion of getting the drive warrantied through WD. You should be able to do it through their website, though I suspect they'll ID the drive as an OEM and refer you to the manufacturer.
After everything is off the drive you could reformat it (FULL format, not a quick format), then run the free trial version of HD Tune Pro.
Do a full disk scan and check the health of the drive to see if it's worth using again. Make sure you do backups.