In any case your drive, as were mine, is toast regardless of whether or not the S.M.A.R.T. is verified and must be replaced. I now make it a policy to run a full surface scan on any drive, before putting it into service and at least quarterly thereafter. It is a time consuming pain in the nether regions of the anatomy, but well worth the time and effort if it prevents data loss.
While a surface scan is indeed a royal pain in the backside, I echo what joemikeb says here. A SMART status of "failing" does indeed mean the drive is toast, but that doesn't mean that "verified" indicates the drive is OK. If you care about your data, being on top of the formation of new bad blocks is wise.
In addition,
never have only one copy of important data. Keep backups religiously. Assume that your hard drive and everything on it will be gone beyond all hope of recovery when you wake up tomorrow, and behave accordingly.
