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happened to me last month. If you don't back up your data from your HD, you are screwed. The HD, once it's formatted for the PS3, will only work with that motherboard. If you have to replace the motherboard or CPU (in reality they just send you a different PS3), then you lose all of your data. The data is encrypted and hasn't been cracked yet. You can't use a PC. You can't use another PS3. You are screwed.

Back up your data.