The hard drive on my 4.5 year old macbook pro just died, and the battery "needs replacement" according to apple, even though I still get 1 to 2 hours out of it. In light of these damages. If I buy a new hard drive, should I expect that other components will start failing as well?
Hard drives "die" mainly because they are mechanical devices. As with any mechanical device...wear & tear occurs due to the mechanical movement. Same thing with optical drives.
Other than hard drives, optical drives, trackpad buttons, keyboard keys, display hinges on laptops...just about everything else is electronic...and not susceptible to mechanical wear & tear.
As far as the battery...this is simply a "consumable" part...just like tires, brakes, or shock absorbers on a car. the more you use your computer (especially on battery power)...the faster the battery will be "used up" (total number of battery cycles).
For the way I use my laptops...getting 1-2 hours of runtime on a single charge from the battery I would consider just fine for me.
So you just need to replace your HD...and you will be fine.
And if you need more than 1-2 hours on a single charge from the battery...then you could replace the battery as well.
- Nick