It's too late to save the pictures, if you've reformatted the card. Deleted files can sometimes be retrieved, but generally formatting gets rid of the information necessary to that process.
For what it's worth, though, this sounds more like a memory card problem than a camera problem. Before you take any pictures you care about, I'd try putting a new card in and see if you can successfully read the pictures both through the camera's USB interface and directly from the card. If you can, toss the first one, it's bad.
One more point: although memory cards are theoretically formatted when you buy them, as a practical matter some cameras are very picky about formatting. The very first time you use a card in a camera, before you take any pictures, put it in the camera and go through the in-camera format process (which, unfortunately, you've already discovered how to do). That way, the card will be properly formatted for that camera.
The Digital Photography School website had a recent post on
care and feeding of memory cards.
One more caution: DO NOT use the Mac or Windows format utility to format the card with a computer, and NEVER delete images using the computer. Maybe you can get away with it with a particular combination of computer operating system and camera, but I have had several cameras which had problems with memory cards after I'd changed the files with a computer. Not always, and not every camera, but often enough to convince me it's a Bad Idea.
I just copy the images onto the computer hard drive from the card, and then reformat the card in the camera to start over. That always works. (And don't forget to back up your computer hard drive periodically - I've got a network drive on my home network, and my computer automatically copies everything which has changed since the last backup to the network drive every morning at 3AM).