Which is all that a data recovery service would do. Of course, they have controller boards for every drive under the sun and an electronically safe environment, but nothing that you can't create for yourself at this level. Given that you have identified the point of failure so precisely, I agree that it is worth installing a controller board from a matching drive. Unless you can find a case history that identifies that controller boards are freely interchangeable for your model, assume that you need model match and revision match, which may be tricky given the drive's expiry.

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Really? I thought actual, proper data recovery companies (like DriveSavers) actually removed the platters from the drive and retrieved your data from it that way?

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What they do depends on what they find. Generally, they open up the drives first, without having applied any power (to prevent doing any more damage). If the heads are damaged, then they will try transplanting the platters into a healthy host. If the heads and platters look ok, then they typically power up and see where things stand. If the drive appears somewhat functional (e.g., the track-following servos work, the read electronics are functioning, and the spindle motor spins at the right speed, etc.) software-based recovery methods might suffice. If not, and if a logic board swap appears sensible, they try that next. And so on. (At least some) data can even be recovered from crashed platters, but the recovery process is much more involved (and expensive).