Okay, this is all making sense now. I'm a liitle slow sometimes. :-)
With this being a secondary drive on your system, you've got a pretty good chance of recovering the data. It's going be fairly easy once you find the right recovery software. That is ...IF the data is not too corrupted, or there's not a mechanical failure on the disk.
I've got a friend who's really good with this stuff. If no one else replies sooner, I'll let you know what he recommends in a few days (should be seeing him this weekend).
What I do know right now, is that RAW data can be caused by a lot of things -- it basically means your PC is only seeing the (raw) binary code, instead of the normal FAT32 or NTFS file allocations. It's a positive sign that your system is still recognizing the drive.
You may find a solution on your own sooner, if you download (play with) a couple "recovery" apps.
EDIT (below) after reading your post again:
I see you've tried to reformat the drive. Most likely that's when you're getting the "unable to recognize RAW drive" message, huh?
Just in case, here are a couple good pages on formatting drives.