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What kind of power supply do you have? Mine used to click when it wasn't able to get enough power. But then again, I have 5 HDDs, and 3 optical drives.
that happened to me when i was tinkering inside of my case. i was ghetto taping my zalmans fanmate to my PSU and my hand hit the fan (while running) and i spasmed back and hit the HDD. it slowly froze
netime any drive makes a funny sound, i just rma it as soon as possible. i have a 40 gig caviar that would work fine... you could run diagnostic utils on it 24/7, etc, etc... everything would be fine but it heads make a weird noise at spin up and during tranfers, etc. so i just pulled it and tossed it in a drawer [not covered under warranty]. i'd backup your data and rma the drive or replace it.
a "click" is the drive recalibrating
it will do that if there is an intermittent power problem (as it reinitializes)
it will also do that if there is a read or write error, so if you have a poor data cable connection or crappy cables it will do it
it will also do it if there is thermal distress (HDD to hot, hot parts are bigger than cold parts, needs to recalibrate)
generally its something that will normally occur, its the frequency that is really the issue, when it substantially increases, troubleshoot the above, and backup the HDD (which you should already have anyway )
if it gets worse, run the manufacturers diagnostic if you get an error code, RMA the drive, if its out of warrantee, suck it up and replace it
you might still be able to use the drive, but it will be a game of Russian Roulette ( ith the odds getting worse and worse)
and endless cycle of click click click click is read\write errors and is a sign on imminent failure, the freezer trick might enable you to backup the drive
PS the "click of death" is a term originally used for a different zip drive poblem, that has been adopted to describe the above
I have the same thing happen to my psu/hdd. the 20gig will randomly loose power and come back on with the click of death. I have to beat on the case REALLY hard to get it to work again.