Seagate FreeAgent 320 GB usb 2.0 Purchased this drive November 2007. Worked fine until last few

Question

Purchased this drive November 2007. Worked fine until last few days. Getting Windows 'delayed write errors' when closing .psd files in Adobe Elements 5.0 to this drive. Also getting delayed write errors when saving other files to this drive. Ran chkdsk I: /f - Drive ok. Ran fsutil dirty query I: - Drive not dirty Tried all the Windows KB fixes. No help. Drive seems to be getting hot at the base. Perhaps a power supply / heat dispersal problem?