I have a first gen 60 gig PS3 which I bought a few months ago, I got specifically that model because it can play PS2 games. But I've been reading on some forums that the first gen PS3 has a higher failure rate than other models mostly due to overheating, which supposedly melts the solder from the GPU and CPU. Because of that I've been thinking lately that maybe I should get rid of my PS3 and get a slim which produces less heat. So far my PS3 has never failed except for a few times it has frozen (4 or 5 times in like six months).
This is why I would like to know about your experience with the PS3 so that I can make the right decision. It would be cool If you could post some information about factors that could have contributed to the fact that your PS3 has failed of not.
Update: I did a little research on how to prevent YLOD from happening and I found out about some "thermal paste" thing that needs to be replaced and is the root of the issue on PS3's (and computers) with overheating problems. Thermal paste is a heat conductive grease that goes on top of the CPU and GPU and helps to transfer the heat from those components to the heat sink. Apparently when the thermal paste gets old (or too much is applied), the heat doesn't flow to the heat sink and stays in the CPU causing overheating. I'll just get some thermal paste today and apply it on my PS3, then I'll tell you how it worked : )