If it keeps ticking with it disconnected immediately buy a new hard drive.
You should do the OS install on the new drive and then pull the data you need off at that point. Don't try running the old drive at all until you are ready to pull the data off it because as these guys have said, it could crater at any minute.
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"Wake up, Luigi! The only time plumbers sleep on the job is when we're working by the hour."
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