It is not a beeping, blinking red light.  The system beeped while I was playing MGS4, then the light started flashing red.  Now, when I push the power button after the initial beep there is a sequence of 3 beeps and the green light (from the power on) shuts off and the system flashes the red light.  I just spoke w/a CSR who stated they will be sending me a mailer to ship the system back in wich should arrive in 3-5 business days.  He asked about the lights, the system serial in the back and if anything was blocking the fan.

I have no reason to lie, I'm a Sony shareholder (position is long, not short) which I took up the day after Warner Brothers announced BR exclusivity.  I'm just pissed that this happened on a BRAND NEW 13 day system, especially as one of the reasons I chose the PS3 over the 360 (I already have a Wii) is the supposedly superior manufacturing of the PS3...as in there is no RROD issue.  Additionally I'm pissed because I'm like 1/3 of the way through the 2nd act in MGS4 and am now going without it for up to a month until I get my system back.   Plus the rep told me I'd have to be here to sign for the mailer, yes to sign for an empty box.  Although my instincts tell me UPS will leave a pickup slip allowing me to pick it up at their local facility.

DAMN IT!

edit:

Oh and BTW anyone nitpicking my emotions towards Sony is a fanboy.  I would be pissed at WHATEVER company shipped me some $500 piece of equipment that didn't work after less than 2 weeks.  I am also less forgiving as this is not a launch day system--the PS3 has now been out for about 18 months!

Seems like anything people say about the PS3 pisses you off or something.

Back to topic, you should contact Sony for the problem. People in forums can't help you. You can probably return it to Amazon.

I agree with Leo-J, certain aspect of your story sounds like you were taking low blows to a console you JUST happily purchased.

You know what? Take a picture, with a sign of your SN to your broken PS3, and we will believe you

first of all CHILL OUT

secondly July 5th = next PS3 80GBshipments....so you will have to wait a bit

Call Sony. You have a one year warranty, so they'll ship you a box and fix it for free.

Oh, and make sure you tell them MGS4 is stuck in the machine. They may even send you a brand new copy of that, case and all.

Best of luck to you man!

n people calling it fake.....get a reality check

he has full right to be mad after paying $600.....but he needs to control it thats all

Why post your problems here,on a sales site?? We aren't professionals,so call Sony.You needed someone to tell you that??Their is a little card inside the box with the help number there.You just wasted time writing a couple of paragraphs to hear that?

Well at least it's under warranty, you could have had a DRE on your PS2 after a year like i did.

Not that I'm blaming the PS2, it was a bad game disc that broke my PS2's drive, but think of it this way, at least you don't have to buy a new one like I did.

Dude, you just got a defective unit. It's not like the PS3 has a high failure rate. There are always defective units in the bunch. I would be pissed too but nothing has a 0% failure rate. Just call Sony up and let them know MGS4 is inside.

The PS3 has a failure rate of under 0.4%, count yourself very, very, very unlucky.