Which version of Exchange, OS and SP level of each? Do you have OWA installed and running? Does KB885264, KB899301 or KB827214 apply to your situation? I’m not entirely certain of any impact, but running chkdsk against a drive with an EXCH information store probably isn’t a great procedure and could result in serious data corruption, mounted or not. Unless you truly suspect hard drive failure or corruption due to other apps failing, I would stick to the 7031 event ID before moving to any perceived hardware issues.