Formatting did not do this. Something else has gone wrong and needs to be found/fixed. Try these preliminary steps.
1. Disconnect the cables to the 50 GB unit - both power and data.
2. You say the 50 GB was set to "Master". Does this mean that both your HDD's were on an IDE (PATA) port with an 80-conductor ribbon cable from the mobo? If so, once the 50 GB unit is disconnected, reset the jumper on the 250 GB unit to be the Master, and then plug the END (Black) connector of the ribbon cable into it. Now try to boot.
3. Since you had both Win 7 and Win XP installed in your system on separate HDD's, did you have it set up in a dual boot configuration? That is, did it used to give you a menu at boot time to ask which OS you wanted to boot into? If you did, maybe you wiped out the dual boot system when you Formatted the 50 GB unit. HOWEVER, that should not prevent you from getting though the initial POST process and at least some error messages.
4. You say the mobo (Video) output is there but different. My guess is that the mobo output connector is the common 9-pin VGA connector, and you have been using something like a DV cable from your vid card. Take a close look at the back of your monitor AND its manual. Many such monitors also have a VGA input connector. You can get a common VGA cable and connect from that to the mobo VGA output. Then you probably have to set your monitor (hence reading the manual) to use that input source. Try getting that working to see if you do get video that way.
If none of that works, you will need to follow a systematic diagnosis plan, OR get someone with more technical knowledge to help you. For a thorough troubleshooting guide, look here:
http://www.tomshardware.com/forum/261145-31-perform-steps-posting-post-boot-video-problems
That covers much more than you may need, so you may find yourself skipping steps. But it did remind me of something. Check inside your case for loose connectors. Sometime when you work inside you bump something and loosen it without realizing.