If you feel adventurous, (forget the warranty), open the drive and inspect the optical head. Sounds like it's jumped it's track or something is out of allignment.
Also re-set your EEPROM using the available tool.
Do not RMA a drive after you have chosen to void your warrantly, it doesn't matter what is wrong with it. You made the choice. Open the drive and learn how it's put together, maybe you can fix it. The experience is worth the cost of a new one, IMHO. Heck, I open them right out of the box before I even install them.