If chkdsk /f is still telling you insufficient volume and HD Sentinel is still reporting the empty journal, then they are clear indicators that the HDD is failing.
If they are then you should create a system repair disk and create a full system image onto external media such as an external HDD.
You will also need to go into the BIOS to change the boot order so that it will check the DVD drive before the HDD so that when the HDD does finally fail, you will be able to boot up with the system repair disk and restore with the system image onto your new HDD.