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I've had my launch model 60GB die on me 3 times. First time I sent it to Sony and it cost me $250 AUD
Second time I sent it to a place close by which only set me back $90
After receiving it back it turns out the problem was the console being on Standby mode. If you have the console on standby mode, power still runs through the thing and the solders can melt in the older model. I didn't really believe them and found out that after leaving it on standby for about 6 hours, it died on me again. Lucky those guys gave me a warranty...
But if you have an older model PS3, DO NOT KEEP IT ON STANDBY FOR LONG PERIODS OF TIME as you will reduce the consoles life.
As I just joined this community, I thought I might help out.
I have my entertainment center hooked to a light switch so I turn the juice off at night and when I leave for the day.
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