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Hey Guy's here is a great guide to a better, Faster, Cooler, and cleaner PS3! 
Here are some great methods to use!
Minor clean, without removing Cover.
Vacuum: This is very good to use if you don't want to open your PS3, either because you don't want to void your warranty, or that you just want a minor cleaning in your PS3. The only thing is that this method doesn't remove all dust in your PS3.
Cloth: Micro Fiber cloth's are tthe best to use because they can easily flex and there very thin so they can fit inbetween the small vents. Damp or dry the Cloth is very useful for removing dust on the surface of the vents.
Simple Guide:
It's very simple basically you go get your Vacuum and gently holding the end of the Vacuum about 1 Inch from the vents to ensure most dust from the Heat distributer is sucked out. Do this for about 1-2 Minutes. Now your going to want to get your cloth and simply wipe any extra dust that may be sitting on the vent slits.
Major cleaning Opening cover!
This is highly recommended that you do if you have had your PS3 for awhile, as dust gets blown around in your PS3. The fan in the PS3 doesn't have a lid ( Obviously :p ) So when the dust comes in ehen it's not in use it simply goes in and passes the distributer, and sits on the fan.
Doing this method will decrease chance of getting YLOD!
Compressed Air can: This is like the best thing you can use when it comes to cleaning the BD drive,under the motherboard, Inside the heat disributer. Very effective device to use :p
Microfiber Cloth: This could be used for cleaning in and around the tight corners of the Fan. When I took my Slim apart only after a year ( I kept the vents spotless ) There was dust all over inside, and the most was sitting in the deep corners of the fan, and on the top of the case ( Shell ).
Vacuum: You can use a low power vacuum to clean some stuff out but it's not really recommended that you do because if you hut any component it can damage the System.
Seperate Moist cloth: This is used primaraly fr cleaning out the case of the PS3, as ALOT of dust can accumulate on there. :O
Simple Guide:
Your going to want to unscrew all the screws on the system ( For slim it's seven screws. Once it's open go ahead and grab a wet cloth and gently rub any dust off the top off the case on the inside, there should be quite a bit of dust there.
Next your going to want to grab your compressed air can making sure that it's not fully tilt upside down, as this can make it leak a liquid. Spray in short bursts in and around the motherboard, and along the sides of the motherboard. Also make sure your getting along the BD drive and along the distributer.
Now grab a screw driver and unscrew your fan from the PS3, it should simply lift upwards, ( You don't have to disconnect anything )
and grab your cloth and wipe off any extra dust that you can get in the corners of the fan. After you have gotten as much as you can take the compressed air and spray all around the fan making sure to remove any piece of dust sitting there.
Go ahead and screw the case back on, and you should be pretty good to go

! Your PS3 should run cooler, and smoother!
This also decreases the chance of getting the overheating YLOD part.
Here is a different PS3 cleaning method. The Fan clean feature from the PS3!
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- Credits to cheezydog22 for the Vid
Simple clean gets some dust out

Works for slims too!
Hope you enjoy :y:
Thanks Guys