I read an article the other day about Hitatchi having a diagnostic thing on their website that actually goes off the sounds that your drive is making. I never checked it out though.
Sounds like the black arts to me, but you never know.
Have a look in the event log, any 'disk' errors particularly bad blocks is bad news. You can also try making an IBM drive fitness test boot floppy, I think it's also on the UBCD you mentioned.