AIUI, Initio's INIC-1608 does not incorporate hardware encryption.
http://www.si-tech.co.jp/search.php?key ... or&seq=ASChttp://www.initio.com/Html/Doc/INIC-160 ... 0Brief.pdfUnless there is a chip on the reverse side of the board, it does not appear that the INIC-1608 has an external EEPROM IC, in which case my suggestion regarding the lifting of its clock and data pins does not apply.
I don't think there's much more you could do except to measure the voltages at the +3.3V and +1.35V test points on the PCB. You can find them near the vacant location at U12, near the 12-pin header. If the problem turns out to be a faulty bridge IC, then you should be able to access your data by tapping into the SATA Tx/Rx signal pairs and converting your drive to SATA mode. You will need to remove four capacitors (C13, C18, C31, C33).
BTW, I believe that pins 27, 29 and 31 of the header provide access to the serial diagnostic console. However you would need to purchase a tool such as WD HD Pro or WDR-UDMA (serial version) in order to gain access to this diagnostic port. With this tool, you should be able to transfer the "ROM" data to a donor PCB, but that's not a DIY job.