I've seen on Vista Event Viewer 'SMART warning' entries. The drive was indeed unreliable, and was promptly warranty-replaced.
But what I usually do use, is 'smartctl' tool from 'smartmontools' package. It can query the SMART values from a drive and even initiate drive's own test routine. But I've always used smartctl from Linux. Most "rescue" Live Linux distributions do have it, and you can put such distro into bootable CD or USB. Since the "rescue OS" boots from removable media, the hard drive will be idle, and not burdened by other access.
smartmontools is apparently available to Windows too.
The manufacturers of hard-drives do provide testing tools as well, and I assume that they probe the SMART data under their hood.