I apparently have a 499MB SD Card

While I was accessing my Kingston 1GB Taiwan Micro SD card, it began corrupting itself. While I ignored the obvious warning signs, it got worse and worse. Then, kaput.
So, I pulled it out, plugged it into my computer, and it presented me with the "Your drive needs to be formatted, etc." notice. I formatted it, and started replacing the files that were lost. When I checked the disk summary, I found that 367 MB of space of space had already been used out of the 952 available, despite only putting about 3 megabytes of stuff on it by then. I figured that there were just hidden, screwed up files (my drive gets corrupted every 3 months or so), and didn't think too much of it.
So I ran File Scavenger to try to salvage the mess and see if something could be pulled off of it and to figure out what was going on. I decided not to bother grabbing anything in the end, as the files I wanted were toast.
I then reformatted the drive using Administrative Tools->Computer Management->Storage. However, when I went to check the drive to make sure it formatted correctly, it presented me with having only 499MB, with all of it free.
I'm personally not really sure how to restore the card to its prior state, or even if it is possible. A 5 minute Google search gave me some idea of what to do, but I am by no means sure. Any ideas?

I believe Kingston has a lifetime warranty on memory stuff. Get it replaced.

I shot 'em an email. I'll see what plays out.