Actually, there's another paper, G. F. Hughes, J. F. Murray, K. Kreutz-Delgardo 
and C. Elkan, IEEE Transactions on Reliability, September 2002, "Improved Disk 
Drive Failure Warnings".
http://dsp.ucsd.edu/~jfmurray/publications/Hughes2002.pdf

It looks at an improved version of the current SMART threshold scheme,
and shows that even the improved scheme yields unimpressive results.

They were able to predict about 30% (i.e. 40% for one kind of drive and
10% for another) of failures, in exchange for a number of false alarms
that is about 20% of the real failure rate.     That's not a spectacular
result.   It means that about 1/3 of people are saved from a failure,
but 1/5 of people unnecessarily throw out a disk.

Perhaps that's a good trade-off, but it's the result of a careful
statistical analysis.   If this software does a half-baked job of it, it
could easily do far worse, enough worse to be actually harmful.

-- 
gnome-disk-utility nags me too much that my disk is failing
https://bugs.launchpad.net/bugs/412152
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