Can you load up windows cd or set it to first bootable drive in your bios. If so, boot to command prompt and then type "chkdsk" (without qoutes) That will find most surface area problems and bad sectors and attempt to fix them. It will not fix the ntfs.sys file.
The ntsf file being corrupt is rather common, and alot of times does not mean your HD is failing.
This is taken from the windows site on how to repair the ntsf.sys file. I am guessing you are using 2000, XP, ect. since they all mostly use ntsf.
RESOLUTION
To resolve this problem, replace the missing or corrupted Ntfs.sys file:
1. Use the Windows XP startup disks or the Windows XP CD to restart your computer.
2. When the "Welcome to Setup" screen appears, press R to select the To repair a Windows XP installation using Recovery Console, press R option.
3. Type the number of the Windows installation that you want to access from the Recovery Console, and then press ENTER.
4. Type the administrator password when you are prompted, and then press ENTER. If no administrator password exists, just press ENTER.
5. At the command prompt, type the following commands (press ENTER after each command):
cd \windows\system32\drivers
ren ntfs.sys ntfs.old
Note This step renames the corrupted Ntfs.sys file to Ntfs.old. If the Ntfs.sys file is not found, the file is missing.
6. At the command prompt, type the following command, and then press ENTER:
copy cd:\i386\ntfs.sys drive:\windows\system32\drivers
Where cd is the drive letter for the CD-ROM drive that contains the Windows XP CD, and drive is the drive where you installed Windows XP.
7. Remove the Windows XP CD from your CD-ROM drive, type quit at a command prompt, and then press ENTER to quit the Recovery Console.
8. Restart the computer.