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Oh god not another 60 GB (runs off to back up saves, again)

If I were you I'd pay the $150, there's maybe a 5% chance Sony will cut the price by $100 anytime soon. They MIGHT have a $50 price cut, but that's doughtful if there still losing money off the PS3. Remember Sony said there working on making the PS3 profitable this year, not trying to win the console wars.

So I'd pay the $150 to get it fixed, if it were me.