clicking sound - Hard drive won't initialize, spins up, makes 2 clicks, and spins up again

When I booted my computer today, it wouldn't progress past BIOS. One of the drives ( the one holding the OS, of course ) spins up, goes "click click", and then spins down and repeats the process.

How recoverable would you say this drive is (or not)?

The drive is a Western Digital WD3200JD 320GB