My Passport Essential WD5000BMVW slow transfer speed and disconnection

Hi Folks!
I’ve annoying issue with My Passport Essential 500GB.
From few days when I try to copy data from External HD to my laptop the transfer speed is very slow (400/500 KB/sec) and often the HD disconnect from the laptop and reconnect in 3/4 seconds.

I run WD Lifeguard Diagnostic utility. Below the result:

Test Option: QUICK TEST
Model Number: WDC WD5000BMVW-11AMCS0
Unit Serial Number: [Delete]

Firmware Number: 01.01A01
Capacity: 500.11 GB
SMART Status: FAIL
Test Result: FAIL
Test Error Code: 11-Cable Test::Read diagnostics sector error!
Test Time: 09:56:21, December 22, 2012

In the details windows I get this red paramter: “Re-allocated sector count” = 133 with Threeshold = 140.

Someone can help me?
Currently make a backup is very difficult due to slow transfer speed and continuos disconnection and I’m afraid to lose my data.
Any tips?

Do a backup any important files and replace the passport since it failed the test. 

http://wdc.custhelp.com/app/answers/detail/a_id/8/session/L3RpbWUvMTM1NjM4OTkzMy9zaWQvaU9rY3ZBZWw%3D

Thx for help Alucardx!

I raised a case to the support and asked an Advanced replacement. I’ll wait for the new one.

Is there any suggestion for the backup of the file? Transfer speed is very low and ofter the HD disconnect from the pc.

How can I handle the backup?

normaly it disconnects from the pc when its detecting many bad sectors… good luck

lets wait for a better response