Inspiron 1520 Blue Screen Of Death/ error code 0142

I have a Dell Inspiron 1520.  When I tried to boot it, it would go to blue screen saying things like:

"ADAPI.dll was not found" and

"windows\system32\basesrv.dll not desingned for windows or contains an error.

I was not able to boot to desktop within safe mode, access the last good system point, or even access the system restore.

I talked to a Dell tech and she asked me to a diagnostic.  It came up with the error code:

"0142. 

Msg:Error Code 2000-0142

 Unit1: Drive self test failed.  Status byte=79

After searching these forums its seems that the hard drive has shat itself and I need to buy a new one.  My question is, what were these other error messages I received on the blue screens when trying to boot the computer.  I don't want to go to all the expense of buying a new hard drive just to have other problems surface.  Any help would be greatly appreciated.