Just make sure you back up your current drive and game saves; your console may be on the verge of going out.
I have a 60GB model that I recently got back from SCE service/repair ($170) and there wasn't much warning before I got the green light, two yellow lights three beeps and then flashing red light which signifies dead hardware.
It happened a few weeks after I gave it a thorough cleaning with compressed air. And it did have a fair amount of dust inside the chassis due to the amount of run time it had on it (a good 5,000 hours due to Folding and heavy general use).
So despite wiping it down on a regular basis and keeping it running on a glass top with good ventilation, that may have contributed to its demise.
Are the fans on your console typically running on high most of the time? That could signify high operating temps, possibly due to either poor ventilation, or obstructions (dust/debris) in the fins the heat sink/fan. Over time, dust will accumulate inside if all you do is wipe the outside and dust around the console.
It shouldn't be a HDD related problem although it would be nice if most hardware failures were! Easy fix if so.
If this only happened after the latest firmware update, try restoring a previous version off a back up (if you've ever done so), or just wait for the next firmware even though I suspect your problem is a hardware related problem; most likely
your motherboard.
