The issue you are running into is that your Key is being validated within the game's files but not within your system's registry. To further explain, when you transferred the already installed files from one hard drive to another, you were taking a shell of the game. The game lost the registry data once transferred since it existed on that drive it was originally installed on. To fix: if you purchased through steam, re-validate local files. If you have a disk, re-install it. If you have a CD-Key but no disc, download the full game and use your CD.
Try this first
If none of the above fix it
**If you change the wrong thing in the registry you could break a lot of programs.**
Open Regedit and look in this folder
http://i.imgur.com/UlLzrHE.png
HKEY_CURRENT_USER\Software\Valve\Steam\Users\*stri ng of numbers*\cdkeys\
Look for the name "7940" on the right. Right click on it, click on modify then copy the value data. That should be your cdkey for the game with appid of 7940 (which is COD4).
If there is no entry for this then you probably do not have it through steam.
I hope this helped.
- Mind