If I was sure that it was file corruption that was the problem...I don't reformat/reinstall for such, I save those for the "I've tried everything I know for two full days now" moments
I suggest running chkdsk /r on that drive, just to get one more vote of confidence. Chkdsk /r will check for bad sectors and includes all the functions inherent in chkdsk /f also.
If chkdsk /r runs to completion and you are not experiencing any known problems, I see no reason to format.
If you think the HD is failing, just download a diagnostic from the website of the hard drive manufacturer and run it...do the long test, do not do the low-level format option.