I'd replace the drive. Recovery services cost a lot and www.drivesavers.com does fix such to get the data off but you would not be posting if you were going to repair the drive. That is, swapping boards is well discussed so I won't duplicate that information.
My advice is to replace the drive and consider that the drive should not be pulled again.
So I decided to plug the Hard Drive from my PS3 into my computer to delete an unused Linux partition on it that I cannot delete from within the PS3. I used a SATA to USB bridge to connect the drive. It did not show up on the computer, so I unplugged it. Turns out the bridge malfunctioned on me, and broke the drive: I plugged the drive into the PC directly, and it would not spin. So I finally gave up, and put the drive back into the PS3. The system would not start up, claiming that the drive was corrupt :\
I tried to plug other working drives into the SATA-USB bridge, they also broke on me. I know it is the bridge that is causing the problem.
What component of the PS3 Hard Drive is most likely broken, and (if possible), how can I fix it and recover the data on the drive?