Yes, there is no difference doing a clean install on the same or a different drive.  Just skip the first few steps talking about backing up data, retrieving Product/license Keys, etc. (anything you obviously cannot do with your "completely failed" drive).
I've already visited this page: [URL] but everything I'm reading there seems to indicate a clean reinstall on the hard drive the OS was initially on. My hard drive has failed completely and I need to reinstall Win 7 on its replacement. Is the aforementioned page of any use in that regard? Here are some specs: Microsoft Windows 7 Home PremiumBoot Device: \Device\HarddiskVolume2Install Date: 6/4/2010 12:52:43 PMSystem Uptime: 3/1/2012 6:13:44 AM (4 hours ago).Motherboard: Dell Inc. | | 0T568RProcessor: Intel(R) Core(TM) i5 CPU 750 @ 2.67GHz | CPU 1 | 2668/133mhz
Reinstalling Win 7 on new HDD...