Lizard, chances are the "wart" failed because of other cascading events. Replace the failed component and the new one will probably fail.
If you're serious about data recovery, I read an article about a data recovery company - it's been 6 months or so, but I (sorta) recall in the neighborhood of $500 for a situation like yours.
If you're interested, send me e-mail (profile) and I'll track them down for you.
gary