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So I got the dreaded 3 beeps and the red flashing light on my PS3. I tried cleaning the vents and letting it sit for a day or two to cool down, but to no avail. I called sony and asked them if it was worth the $150 to send it in or just go out and buy the new model. After giving them my model number and serial number they said that I most definitely wanted to fix my old one since it was more "valuable" to me because it was one of the first models. They said this due to the fact that it plays PS1 and PS2 games and the newer model does not amongst other features. Anyone heard this or do they just make more on the fix than the sale?
So I sent my old 80gb in to be fixed and bought a new one. I think i will try and sell the old one on ebay. I really don't need the backwards compatability since I don't play any older games anymore. Anyone interested in it?