how do you know the system is useless now? what errors are displayed when you boot? i wouldnt think that doing mkswap would screw it up completely... you have to also exectue the swapon command for it to start being used as swap space, no?
anyway.. if there ARE errors on boot.. get a live cd and post the contents of /etc/fstab and /etc/lilo.conf (or whatever grub file if it uses grub).
those are my suggestions.
again, i wouldnt think it would screw it up
but you said it did so..