Dude, download the SpinRite.iso and boot to it. Set it to run on lavel 4 "deep surface test". It will actually fix the errors on the drive by relocating the data, assigning references to them, and quarantining them off so they cannot be used again. CHKDSK /R is only a band-aid and really doesn't do much but get you to boot. I'm sorry I hadn't checked back on this thread lately and I hope you didn't format. SpinRite will get the image stable enough to boot, then use Acronis Disk Director or R-Studio to transfer the image to a new drive.
Do it. It will work. I have done this same thing for the same problem countless times. Unlike many people who would throw any suggestion they have ever though of at you, I actually work in a PC repair shop.
EDIT: Damn. I just seen the part where you said you formatted. That is ALWAYS a last resort.