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I've seen it happen before. Not on my own 60GB, but on a pals. He hard-booted the system during a software update once -- that was his reasoning anyhow.

He also keeps his PS3 on all the time, folding proteins, and its not super well ventilated. He's askin' for trouble, IMO.

The only time my own PS3 has ever had an issue is when I was using the PS2 BC on a select couple games (Onimusha 2, as I recall) and then only rarely.  Then they patched the BC to work better (Onimusha 2 ran fine after that), and it hasn't happened since.