Still no good... still 'RAW'.
I am currently running a test by the manufactuer (Western Digital). It will take 18 more hours to finish, and I don't know if it will prove to be worth anything. The simple test said there was an error, but the only thing it listed as an error was that it read as 'RAW', to me this is more of a symptom than the cause...
As for reformating: On the Western Digital website they said that in order to reformat, you have to use the diagnostics progam to "set to zero" the drive then attempt reformating. I do not know what type of drive you've got, clos915, but from what I've foundout there are a bunch of complex steps.
Unfortunately, I don't want to give up on all that data yet. Maybe get another HDD to transfer the data to (using some program: PC Inspector? [Edit: clos915's posted link is another option?]), then reformat, and transfer back... :-?