Hard disk failure? Laptop stops dead. No blue screen.

I've had my ThinkPad T60 about a year now, and recently it stops dead and my audio just loops really fast and the mouse stops. the HDD led also stops posting. I have to force a shutdown and turn the machine back on again. Oddly, the hard disk and all hardware passes the hardware check I perform weekly. See the video below. Thanks in advance for any help with diagnosing the issue.

http://www.youtube.com/watch?v=WeUSzcfBEnk
 
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