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Wait... is the yellow light a HDD problem?

if not cant you

Cant you buy a external HDD and back up your HDD with that then buy a new PS3... I'm not sure how much they'll charge you to repair.

or just take the old HDD out and swap it with the new HDD. (You'd lose 20 gigs) And then you could sell the old Ps3 for like 150 dollars.