Here in Australia, Konica Minolta have a tool that will allow you to wipe the card completely (write 0's across the card in the case that you do format it in FAT or FAT32) and then another tool that allows you to push an image of the CF card back on to the CF card.
Before anyone replaces a CF card at the moment, I would suggest that they definately go through the TAD that I posted fist to make sure that it isn't the PRCB.
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