My 60GB and 40GB PS3s do put out enough heat to keep the rooms they are in relatively warm though I do like to keep my French-Canadian home (we call them igloos) cooler than most people. So pumping out heat is normal. They are quiet though since the ambient temperatures mean they only kick into high gear on the hottest day or two of the year when I have the windows open.
Why isn't your ambient temperature kept cooler? Are you heating or just live in a hot (higher than 30C or 86F) area?
Maybe you should inquire with Toys R Us to see what their policy covers and if it is not covered you can either break it open (maybe a good internal dusting or lubricating of the fan might help) or pay the 150$ for servicing.
Good luck with your troubles.







