xaviers

Since you have a second drive you can open up and swap the HD as Uncle_Meat suggested and that would allow you to retrieve your data. If you still cannot access it, you ruled out the power supply and board on the original drive and it would definitely be the disk itself. You then have two options: go to a data recovery center or go through tech support and have them send you another drive.

First of all, you mention you hear it sqwak and beep. I have seen that it can be the power supply at times. Have you checked to make sure the output voltage is correct or replaced it with a similar power supply? If its in warranty, according to Iomega's site you can get a replacement. I would test that first and if it doesn't work I can suggest some additional things.

What Uncle Meat said is an option as well to get your data off but you might be able to fix your external drive. I have had WD, Seagate, Hitachi, Maxtor and they have all gone out at one time or another. I have brought back to life most of them.

I had the same problem, but was able to fix it. Do you see anything on your PC when you plug it in (auto open window)? Have you gone to disk management and seen if your disk was there?