I had the same exact issue happen to me with the same exact model two years ago.  I haven't had Sony fix it yet, because at the time it was 150 for them to fix it.

What year did you buy yours? I ask because while I was on the phone with a Sony rep, I asked them if it was possible to upgrade to a slim for a reduced price. They said it is available, but for the production line right before mine. Figures.

I got mine in 2007 I think.  Whenever Sony released the second version of the console sans the PS2 backwards compatibility.  When I looked into replacing it in 2012 it was 150, the price could have easily gone down over the past 2 years.

My original 60 GB is still kicking *knocks on wood*. Every time I start it up I picture it dying on me

Yea, it sucks how the consoles these days aren't as durable as the classics like the original NES. I bet if I booted mine up from 1989 it would still work.

Yeah I still have a working (but fiddly) NES , SNES, Genesis, N64, Gamecube, PSX, and PS2 for that matter. I think the first console I had that messed up was my DC. I've had 3 of those. The latest one still works but the other two either stopped playing certain games or developed the annoying habit of quitting back to the menu while you were playing. Really crappy during RPGs. I have an original Xbox that cannot be turned off anymore but it still works.

The first console I started worrying about breaking is the Xbox 360 and it did. Everything before that, I don't worry about. 

I've been lucky. I've only had 3 360's and only one of them was replaced because it broke. I remember that one well because Microsoft changed the warranty to 3 years and our original 20 GB launch model died after exactly 3 years to the day. I replaced that one with a driveless model and slapped my 20 GB on the side.

Then when they did the first slim revision I got one for free with a laptop and picked up a 250 GB drive with a gift card. It's hardly been used.

I have gone through 2 Xbox 360's myself. One I thought was lost in the mail and called Microsoft. They sent me another one and then the original showed up days later, lol.

I'm on my 3rd 360 myself. I gave my launch one to my friend, who had to fix it a year later. Then my Halo 3 edition one red ringed and I traded it in for the slim 360, which I'm still using. I may be on the last year of the three year warantee I got for it.

sorry man. My PS3 fan sounds like an old car. 

Yea, it sucks. Atleast it gives me a chance to play the Wii U more.

It's kind of like a Japanese car from the 90s versus an American car from the 2000s, only in reverse. Knock on wood for my 1990 Honda Accord. 

The PS3 looks like a stapler on that gravestone. I'm sorry, man.

Thanks. It will get fixed though. The timing just sucks.

Ouch. Gotta keep those old grandpa consoles well ventilated!

I tried, lol. I even used a air duster days before on it thoroughly.

So that's what happened. You knocked something loose! lol

I have that same model PS3 but mine is running fine so far. Sometimes I wish it would break though, because I want that slim model. I'm half tempted to just buy the slim model and trade in my old beast.

Might be a good idea, while its running fine and you would get more trade in value.

Ouch, that sucks  We have one of the slim models and it works fine but I'm worried about our 360. It's only gotten louder with time and we have to lay it flat or the disc drive won't open. I keep expecting it to go kaput but sure hope it doesn't.

I have gone through 2 Xbox 360's. The second one never showed up in the mail after 2 months and I called Microsoft pretty angry. They sent me a different one, and then days after the original showed up in the mail, lol.

Sorry to here this. But $79.00 isnt too bad. Good luck.

Yea, not bad at all. Thanks

That sucks.  Have you looked into fixing it yourself?  I just hate paying someone to fix something I feel should last at least a decade.  Hell, $80 is too much for Sony to fix their own product.  I hope that's not with the insurance.  I'd probably wait for a price drop on the PS3 and buy another. 

I don't have the means or knowledge to fix it myself unfortunately. I have too many PS3 games to wait, lol, it's now or never

Sorry to hear that.

It sucks, but it is getting repaired. Hopefully it doesn't take so long.

Sorry man, that situation sucks. Mine did that to me (same 40GB as yours) a couple of years ago. Hope Sony has fast turnaround with the repairs and gets you back to PS3 gaming ASAP. 

Crappy situation but $79 not that bad. Atleast you know it will be fixed and will work for a good time to come. I still have an old 60GB that I haven't gotten fixed but now that it's just $79 I might get it fixed.