S.M.A.R.T Status BAD, Backup and Replace error

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Polypheme
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SMART status bad is supposed to be an advance warning that your disk is failing but may NOT have failed yet, so you should replace it and get its data off as a backup (or maybe clone it to the new HDD) as soon as possible. This is a hard disk problem, NOT a power supply issue.
 
The usual reason for a SMART failure is an xcessive number of bad sectors.

Try a comprehensive SMART diagnostic. Look for reallocated, pending, or uncorrectable sectors.

HD Sentinel (DOS / Windows / Linux):
http://www.hdsentinel.com/

HDDScan for Windows:
http://hddscan.com/