There are no other steps. Just stick in your Windows CD or recovery discs.
If you find you can't get online or have large video after the installation, then you most likely have to install the hardware device drivers. If that's the case, just post back and we'll help you find them.
Is there any way to access the recovery partition on the old hard drive to recovery for windows reinstall? Probably not since it's a bad drive right?
You could try cloning that partition over to the new drive. It's always worth a shot.