A year or two ago if someone told me the ps3 could fry up like the 360 i would have not believed them, surely Sony wouldn't ..couldn't allow such a thing to happen but yes they can and they did.
Two weeks ago while playing a game (R.U.S.E i think) the ps3 gingerly turned itself off once.. then twice after which there was no third time just a annoying yellow light with no way to get the console going again. naturally i freaked and started Googling what to do, contacting Sony was out of the question for the simple fact that the stories of refurbished consoles/tech support were the stuff of nightmares so i started looking for a business that specialized in console repairs. i quickly found said business and once the work was done (new parts were ordered and the chips were re-applied) she is back working like a dream, as for price it was only 50 euro's - the price of a new game here. in the past i had seen many red lights of death on various 360's but i didn't think it was possible with the ps3. i kept the console in a well ventilated area being careful to never overheat the unit but it seems after two years (turned on the first time on the 29th of april 2008 - GTA IV bundle) it was literally played to death. the fact a console can do that to itself is really annoying and problematic but the positives in my own case are very good - i lost no data/saves/etc, there was no serious damage to the console - i got my own machine back and not a refurbished one, and lastly it was cheap to repair - some people have told me they had to pay 150 dollars they have theirs repaired by Sony.
Now that my on ones been repaired i can get back to playing and reviewing games. coming up will be Tom Clancys HAWX 2/R.U.S.E/Sturmovik/Dead Rising 2/Castlevania: lords of shadow, and of course the next installment of Medal of Honor. my advice to anyone who does get the YLOD of death is to not freak out too much, just see if there are any local repair companies in your area - i found that most places offer no fix no fee and it sure beats buying another console.