"Withdrawn" grade as a graduate student I am in a situation that I would like some input on.

I am currently a 2nd year MS student.  I took a class last semester that resulted in a C+. The final project was worth 40% of the grade, and I received a 70% on it (I disagree with the grade, but that is for another discussion).  I, stupidly, signed up for the advanced class on that same subject because I knew that I could get a grade better than a C+; I thought that this would erase any questions about the previous grade.

The problem is that this added class (I don't need this class to fulfill my requirements for my degree) is turning into a lot of extra work that is cutting into time for me to be working on my thesis.  The drop date has already passed, so I would be taking a W ("Withdrawn") if I drop. 

My question: How bad does it look when I apply for employment with this on my record?  If it was just the withdrawn grade, I would have no problem with it. The previous C+ is what concerns me more than anything.  Thoughts?
Finish it because they are scanning the transcript for red flags and you can't have a complicated story every time you interview. You cannot escape that transcript. Think about that at night when doing homework.