Western Digital MyBook FW drive - Finally failing?

I bought one of these about 2 years ago.  I am well aware of the Western
Digital Quirk - Every so often it unmounts for no reason (a red warning
'device disconnected' window comes up) and takes all manner of plugging
and unplugging, and rebooting mac, and goat sacrifice, to get it going
again.  This time I have done all that, pulled plugs etc etc, goat, and
nowt.  

The blue light is on, the thing is making the usual noise and vibration
etc.  But it still just won't mount.  The blue ring light on the back
just gently pulses.  Tried pressing it in various ways, but nowt.

A brief brain racking tells me that anything backed up on it is doubled
up elsewhere, so i have't lost anything.  But has anyone reached a point
of no return with these things?  and decided to cut their losses?

-- 
bellajonez at yahoo dot co dot uk