Sorry to hear that man.
So is it still under warranty? If you have the receipt and bought it last January it still is...
If not there are alternative methods to fix this. You may need to seek out a place that mods xbox drives. A place like this for example in Toronto.... http://www.gmodz.ca/content.php?content_id=8
They replace the drive for 60 bucks, including the new drive and labor.
Also, depending on the symptoms...there are guides how to fix your drive yourself. Its quite easy in some cases. Don't give up yet I suggest but grab that screwdriver instead :)