Here's a twist for you. I have the same model and it was doing the same thing. Since it had nothing on the drive before and I wasn't concerned about saving data, I decided to reflash it. I found an article on this site which describes how to reflash the firmware, but it doesn't see the drive on the network.
The twist is that I deleted all of the partitions on the drive in anticipation of them being recreated by the lsupdater.exe application. Aside from what you describe here, is there anything special I need to do because the target drive is blank?
One aside, and this may be a stupid question, but why don't people just default drives, image them using whatever tools for Windows, Mac OS X, Linux, etc... and make those available? Wouldn't that simplify everything? I image systems all the time as a sysadmin. Seems like a quick way to get around the problems these things have.