I've done some more work on this and i'm fairly certain it is the cable.
If you look at the previous early-2009 unibody MBP's you'll see the hard drive cable is relatively thick and has a layer of wrap-around shielding on the outside on one end and a nice thick sleeve on the other.
http://www.ifixit.com/MacBook-Parts/MacBook-Pro-15-Inch-Unibody-Late-2008-Early- 2009-Hard-Drive-Cable/IF161-015
Since I had a spare cable here for the mid-2009 i'm having issues with, I made some home-made shielding (aluminum foil + electrical tape) and it now works much better, though I have had just a single CRC error in the past 48 hrs. I know, its pretty ghetto.
I basically made a home-made version of this:
http://www.intermark-usa.com/products/EMC/Cable/FRCS.shtml
Before: Beachballing w/ CRC errors every time the HDD was accessed. The machine was completely unusable.
After: No beachballing, benchmarks showing 200-230 Mb/s.
My advice now is if you're having this issue, try getting another cable. You can pick them up at ifixit.com and powerbookmedic.com. That alone may work for you, but if it does not, take your new cable and do what I did. You can buy something similar from intermark-usa.com above, or you can do the aluminum foil + electrical tape method.
With the foil+tape, be warned: It has to make a downward bend in the middle where the two eyelets/screw-holes are. If your foil/tape is too thick, you will have fitting issues. Mine looks like crap, but i focused on keeping it as flat as possible rather than pretty.