This is really helpful!
So SickMacDoc, you might be new hero! Here's what has transpired since I posted last night.
This morning, I tried to mount it again in Target Disk Mode. I connected it and waited. The desktop recognized that an external HD was connected, but declared it unreadable. It did let me try to run Disk Utility from the desktop on the mac partition of the HD (the wierdest thing about this whole thing is that the Windoze partition appears to be working . . . except that I accidentally erased the OS from that partition as well)
Based on what you had said, I bit the bullet and took the macbook into the local reseller: for 60 bucks they are going to look and see if they can remove the hard drive and get a look at it on their "machine" which I assume is just a casing that will treat it like an external (I could probably do this myself, but didn't want to try -- I'd have to buy the casing etc and the extra coin is worth the peace of mind to me). If they can see anything, they'll pull whatever they can at their hourly rate. And then they'll tell me to buy a new HD.
So here's my questions: if they can see anything.
1. Should I let them mess with it and pay through the nose. Or should I thank them for their time, pay the 60 bucks and, with some patience order the DW disk and do it myself.
2. Will the HD be useable after all of this? Or am I in the market for a new one?