I have a 2GB Micro SD card I've been using in my phone for a couple of years. Recently the phone quit recognizing the card. I hooked it up to my card reader on the computer and it claims it is inaccessible. Does this mean all my photos, etc. are gone?

Sounds like it's a dead card..
Not really much you can do at this juncture.

So absolutely no way to retrieve the files?

May be your memory cheap corrupted. Just scan it or format it.