External HDD problem!?

-HI all...I am having a problem with my seagate freeagent go 500gb external hard drive..it was working good till 2 years and now something happened....when i plug it in it slows the computer..it shows RAW drive..is says 'you need to format drive l before using it'...I have many information stored in it...i cant afford to format it....i Tried many recovery softwares...but after plugging softwares dont open and start hanging.. if i open the software before plugging...it does not show the drive...Please Help..I have WIN7..Had the same problem months back.I thought it was spoiled so i forced opened the cover of the drive out of curiosity,and inside i found two slots similar to the one that an internal drive has.i fitted it internally and it worked!!! {Curiousity does pay off:p}almost all my files were intact and the ones that weren't i recovered em..im not saying it'll produce the same result in your case but there's no harm in trying.

And it'll be helpful if you can add details on what type of files were stored in your drive.
hmm i was facing same problem with my maxtor 500 gighd external.Maxtor is the re branded Segate so i hope we are using same product.The same problem is being faced with me but with me only few folders run terribly bad.So i guess problems with the sectors.Also try using it for quick durations.Longer u use the slower it gets.So plug n unplug.
I think your external HD really have problem.You better contact your vendor.I guess they can solve your problem.
i also had the same prob...i checked up my hdd all shop keepers said we cant repair it so i took new one. i advice u to take new good luck..........