KingStinger, you do not have to re-install your OS for this drive issue and if you do, the S.M.A.R.T error will persists. Doing so will just prove me right!
If you choose to replace the drive? You can run System Recovery Options from your original Windows 7 or above disk. I personally rather repair boot issues from the command line, which may appear to be harder, however it is much faster. If you need help re-establishing the boot at a later time? I would be glad to assist you.
Here is a link that speaks of both methods mentioned above that you can use to resolve future boot issues: