
That's sad. I had one of my Seagate 500gb SATA II drives fail on me this year, only after a year in use. I discovered that the "reallocated sector count" failed because of the SMART monitoring, which causes the drive not to start-up. If I disabled SMART on the drive it was still ok, but discovered the drive was running in 16bit mode compared to the 32bit mode it was supposed to run in.
The problem stems from when bad sectors were still marked manually with debug.
(alphabet will remember these drives) 
These days the bad sectors are built in and automatically marked and reallocated, if a problem occurs on the hard drive with a bad sector. What happened in my case was that the "reallocatable sectors" ran out, thus the drive failed. I was lucky though, I could recover the data.
I also suspect because of the high platter speeds of 7200rpm and up on the bigger drives that this seems to cause instability, which results in the failures, I have seen.
I recently received a 2.5" external 1tb drive from work for backup. It lasted a week and I never dropped or knocked the drive. Yes, and it was a Seagate!! In, similar vein I bought a Samsung 2.5" external drive from Sahara, that only spins at 5400rpm and to date it has been rock solid.
I use a program called crystaldiskinfo, which monitors the hard temperatures and other relevant hard drive info and its free.
http://crystalmark.info/software/CrystalDiskInfo/index-e.html just my humble opinion.