There's nothing wrong with low-level formatting a drive
Yes there is: If you low level format IDE harddisk, it's dead for good. Don't do it.
In fact, only very old IDE harddisks allow this operation anyway, it was disabled later because users managed to ruin their disks. Clicking Low Level Format on HDTB for IDE hd does nothing.
In short: Never ever low level format, unless if it's a SCSI disk, and you absolutely know what you're doing.