PowerPC :: Dead HD - Repair Extension Program Offered By Apple?

First the question, then the story:

Does anyone suspect that a dead hard drive in a 20" iMac G5 could somehow be related to the component failure described in the iMac G5 Repair Extension Program offered by Apple?

Although the article does not list hard drive failure as one of the symptoms caused by this component failure, I am still concerned that it could possibly be related, based on the fact that it was purchased during the date range specified, and the serial number falls within the range specified.

So here's the story: A short while back, the iMac suddenly stopped booting. It only got as far as a gray screen with a small folder image in the center, alternating between a question (?) mark and the Mac Finder face. After asking around and checking a few forums, the ultimate consensus was that it was unable to detect the hard drive. So I took it to a Genius Bar; the fellow who was helping me tested the startup, then took out the hard drive and put it in an enclosure to test it, and concluded that the hard drive is dead. He pointed out that, even in the enclosure, it had no power at all; the only solution would be to buy a new hard drive.

I did some more online searching after coming home, and found quite a few forums discussing the above warranty extension, several of which cited the logic board as the problem component referenced in the article from Apple, and that there were bad caps in these models that were overheating. Sadly, I don't really know what any of that means... But should I be hesitant to simply replace the hard drive, for fear that the same thing could happen again? And does the fact that the article references power issues, combined with the fact that the Mac Genius told me that there was no power in the hard drive, mean that it could perhaps be related? Do I have a case to try and pursue the extension repair?