@techwiz03: I do not mean to sound impolite, but the above description leaves me pretty sceptic. I definitely am not a hardware-guru at all, basically I do not understand much of what you have written. I admit that, okay? 
What I see is that there is a lot of myth about deleting hard drive contents circling in the net, and I have the strong feeling that these myths have a clear intention: data recovery is a pretty profitable line of business, and well… if there was an easy way to delete a hard drive, not many people would consult companies who offer recoveries, would they (if they know a disk has actually been wiped)? The thing is: if you consult such a company, you will have to pay for their service even if the data remains unrecoverable. To keep customers coming, one has to suggest that even if a disk was wiped, there still might be one way or another to recover it. In case of a properly wiped hard disk, what you pay for is actually some time of hope - so it seems to me.
There are one or two things in your description that fit quite well in this notion. 1st: a result of 50% possible recovery is not a result at all. Statistically, if you have one bit and are able to recover it with a chance of 50%, both states of a bit are still possible (0 and 1). True, you did not write “50% recovery”, but “50% to 98% recovery”, but translating that into a human language, it means that almost all states of chances are possible (except for 100% recovery). This makes the sources of these theories sound rather dubious to me.
2nd: you mention a “guard band” which might offer the possibility to recover data from it. I admit I have never heard of such a guard band before; obviously, they exist in hard drives of course (if you say so, I did not check that), but what are they for? Because to me the term sounds as if it is something to divide two things from each other, in this case (that’s my interpretation) hard drive areas such as blocks (or something, I really have no idea). If so, most likely no valid data will be written on the guard band at all, will it? It would not fulfil its job then. Again: this is wild speculation but yet makes me raise an eyebrow.
Finally: one day I stumbled over an article - I am sure it will be an interesting read for you in case you don’t know it yet; it’s called →"Overwriting Hard Drive Data: The Great Wiping Controversy" and is referring to a paper of the same name. To make it short (esp. since the article will describe the details far better than I ever could): actually overwriting data on a hard disk one time with any kind of data will make anyone unable to recover the original data. Period (the result is really that simple). It is not necessary to overwrite hard drives with zeroes first and then repartition it and overwrite it with random data or even to do it several times. It’s gone.
I am referring only to the areas which get shredded / wiped, of course. One always has to take things like journaling or RAIDs into account (and don’t forget that darn revealing ~/.thumbnails folder…
).