Go to the Dell service site and see what the beep codes mean. Since it talks about both drive 0 and 1 I am not certain that refers to a single bad drive, though it could be. The beep codes will tell you. The second would be the CD.
It might also be the motherboard gone bad, or even a nasty virus. I would open th case, disconnect the power lead to the drive and measure for 12V+. Assuming power is ok, after that point, I would concentrate all efforts on extracting your data and whatever settings you can from the existing Hard drive. If you can, mount the HDD in another PC and see if it is readable. If it is, then you are looking more to virus, power supply and motherboard in that order. If it does not appear make sure whoever helps you mount it in a second PC knows what they are doing regarding jumpering the drive to suite. For guidance, if you put it in place of an existing CD/DVD which is on a separate cable, you will be ok (drive as master). Otherwise you will have to jumper it as slave.
Assuming the drive is faulty and you are desperate to retreive some data, I have sometimes succeeded by wrapping the drive well in a plastic bag and putting it in the freezer for a night. You will often get 10-15 minutes from it the next morning, and can sometimes do that more than once. Luck