I think you should look into testing your hard drive. Most manufacturers include some sort of hard drive tester, or it might even be with Windows I can't really remember. I know there are a lot of free tools out there for testing. I know if your HDD is, say Hitachi, or any brand for that matter, if you go to their website they usually offer some sort of test utility. Aftermarket hard drive test utilities can be found
HERE at Tom's Hardware on another post some asked for some. These are some of the manufacturer support sites, you might have to dig some, but here's some
GENERIC LINKS to most manufacturers, also on Tom's Hardware.
At the very least I would test the drive for signs of failure. If it's showing signs of failure, you very well should look into replacing the drive. Either way, I would make sure you back up whatever files you might want to hold onto eg. pictures, music, movies, documents, saved games, and lastly any projects you might be working on. Anything that you think you might not be able to live without if your drive goes down, back it up. Once a drive goes, it's very very unlikely to be able to recover any files at all. Some places can get most things off a dead drive, but you're looking at a large sum of money. I remember someone on this forum a while back asking about recovering files, and they got an estimate from a local shop that wanted over a thousand bucks. The people who posted experience with that sort of thing said that sounded to be a good price. A new 1 TB hard drive will run you about 50 bucks, give or take a few dollars. An external back up drive at 1 TB can be had for about 60 bucks, give or take. It seems worth it to me to replace the drive, and have back ups rather than pay someone a grand to sift through files, that I might not want anyone to see, and they may or may not be able to get my files back.
Lastly, I'm just reinforcing that you don't need to go buy a HDD today. Make your backups. Get the stored, check over everything 3-4 times just to make sure you have everything. THEN try testing the drive for failure. Sometimes these tests can be the last straw to break the camel's back, so to speak. The don't really stress test, but they will test it for being able to uphold the standards the drive was designed to give.
If you do, in fact, need to replace the drive, let me know and I can help you find a nice drive for a cheap price, because that's what we do here on Tom's. We help each other.
I almost forgot to address the second issue you wrote about. I did a little digging for similar issues. That seems to send me back to the point of a failing drive. It seems to me that the drive is having a hard time spinning up. Have you ever dusted out your system before? A lot of people use cans of air. I personally don't like them, sometimes they can squirt moisture all over precious parts. I use a Coleman Air Mattress pump that I got from Wal Mart for 30 bucks. It looks like a little vacuum cleaner, has a hose and plugs into a wall socket. It works perfect for blowing out my case every so often. I suggest cleaning out the case about once a month. It will help keep dust from invading into small crevices and creating issues. Dust is one of the worst things to kill case fans, cpu fans, graphics card fans, and power supply fans.
Another issue that it could possibly be pointing too, but I think is a little less likely is a failing power supply.
EDIT: After doing a little more research on Dell Optiplex's with blinking amber lights, there are a lot of power supply issues. There's also a lot of issues in general online with Dells but, if you test the HDD and find it to be good, you might be looking at a PSU issue.