The Disk Mgmt didn't attach (use paper clip in Reply box) but if your concern is the HD, first thing is to backup your files and image as suggested, then run the maker's diagnostics/repair extended CD scan:
HD Diagnostic
Next run
Disk Check with both boxes checked. These will tell you the state of your HD and file system.
As far as reinstall goes, the cleanest possible reinstall uses the WIn7 installation DVD if you can find or borrow one. If you download it be sure to get a clean copy by googling Official Win7 ISO download from My Digital Life. The rest of the steps are in my link.
But if you rely on any of the preinstalled programs which came with the computer, you may want to run Factory Recovery from its partition after backing up the Recovery Disks.
Acer Support: Frequently Asked Questions list for Recovery media and Restoring a system to factory load