I am having the same problem as the OP was but with slightly different HDD. I could open up a new post but figured this was never answered completely and others (or even the OP) might find a solution in the future.
I am running an IBM T42 laptop but recently installed Win 7 Home Premium so I could use it with my HDTV. I also have the Seagate 2B FA Goflex external drive and it works ok on my rig and also when connected directly to my samsung hdtv but it refuses to initialize when plugged into the laptop.
I can eject the drive but can not assign a letter to it, it gives me the same error reported by the op a few posts back so I won't bother with a new image.
if I right click on it under disk management, the only options (not greyed out) are:
Change drive letter and paths
Format
Delete Volume
Properties
Help
If I click on Properties, the same error message posted comes up.
I have tried restarting the laptop a few times, with and without the drive being plugged in.
I have also tried download and installing the seagate software to no avail. I did noticed that with the software installed all the lights light up, before installation, only 1 small round light would light up.
I have also tried plugging the drive to the laptop's usb port and plugging it directly to the mini docking station usb port and nothing.
Google does not help and the seagate forums less than google
I guess that if I resurrected an old post, adding another image won't hurt much
