Hate to say
It sounds like a dead drive
You said you had it for years
was it getting louder or making clicking/grinding noise lately?
Sata drives are cheap
Since you are doing a new windows 7 install
investing in a good drive like a WD Caviar,Samsung Spinpoint or Seagate Barracuda
would be a good idea
hopefully you have backups of important info.....
also it is better than Sata controller on motherboard being dead