Reloading your content is up to you; however you did it originally should still work now. You can see the formatting procedure of the v1 model of player you have here (if you want to manually re-install the firmware at the same time the instructions are in this same post). This assumes of course that you can get your computer to recognize the player while connecting in Recovery Mode.
If this doesn’t work and you’ve already tried re-seating the memory chip I don’t know what else to suggest.
