I and others I heard from have had good experience with GetDataBack-NTFS. It is probably worth the $80 for you. Very good software. I belive they offer a trial version which allows you to see what files it is able to recover, so you can see if it'll do the job before dropping the $80.
It doesn't sound like the drive is dead really. I had a similar problem with a at the time, very new Seagate 250GB. One day in Explorer I click my drive and its says "Not formatted, do you want to?" (it still detected in BIOS and everything, it wasn't clicking and didnt seem to have a mechanical failure). The whole partition and all the data was gone. I thought I was fvcked big time. That was my music collection starting from before Napster! GetDataBack brought back EVERYTHING (well everything that I had room for on another drive, though it could've done everything, plus things I had deleted on purpose months previous!).
So yeah, there's probably a lot of recovery software. GetDataBack is the only one I've used personally and as I said, has received good mention from others. Plus the whole trial thing to see what is recoverable is a good idea by them. I would guess that with proper recovery software you won't have any problems recovering but again just a guess. Providing the drive isn't failing mechanically or whatnot, your data SHOULD be there as long as nothing has been written over it since.