If you delete a partition (for example, to create a new partition) - yes, you've destroyed the data that was on the old partition.
If you format a filesystem - then yes, you've destroyed any data that might have been there before.
In general, you cannot reverse or recover any such changes once you've made them.
The best you can do in situations like this is:
1) pull the plug as soon as you realize you've made a mistake
2) boot an operating system (Linux is a good choice) from a USB stick or CD-ROM (anything that doesn't touch your hard drive)
3) Try to access the disk (read-only; possibly byte-wise) and see if anything is salvageable
Google for "hard disk recovery tools" - you'll find lots of hits.
I don't know if you'll find an acceptable solution.
You might also want to look here:
http://www.sysresccd.org/
Or here:
http://www.ibm.com/developerworks/li...y/l-knopx.html
http://www.knoppix.net/wiki/Rescue_FAQ