Just performed Checkdisk. It said there were numerous errors Windows could not fix. It made all sorts of changes but my roughly 700GB of information is now being reported as 18.2GB and is just more gibberish (not the same as in the image above). I'd say its completely screwed as far as data recovery goes. That is fine, nothing I can't replace. Just not sure if I want to use this drive anymore.
The sad thing is I was using this drive for two years for data storage without a single problem. Lots of regular read/write operations on a weekly basis. Then I use it for the Wii and this happens. Now I'm afraid to go back to using it for data. I'll go ahead and format it, run tests and diagnostics, and see where I'm at. Thank you all so very much for your help. I sincerely appreciate it. You are awesome!