You got YLOD bro. There are multiple complex "do-it-yourself" fixes for it or you can send it to sony and pay $150. I'd advise you to get a slim if you choose the $150 out of warranty fix because a YLOD console would YLOd again...no exceptions. I learnt the hard way.
There is a relatively easy hair dryer YLOD fix that you can find on youtube. It worked for me but you shouldnt view it as a true "fix" because your ps3 would last only a few weeks at best after the trick. However, it can buy you time to get your data off the HDD...something sony's fix cant even guarantee.
Does anyone still believe that the those of us who got YLOD are an unlucky 0.1%? I'd say its a lot more than that with all these threads that have been popping up. I alone have 2 YLODs under my belt
"Dr. Tenma, according to you, lives are equal. That's why I live today. But you must have realised it by now...the only thing people are equal in is death"---Johann Liebert (MONSTER)
"WAR is a racket. It always has been.
It is possibly the oldest, easily the most profitable, surely the most vicious. It is the only one international in scope. It is the only one in which the profits are reckoned in dollars and the losses in lives"---Maj. Gen. Smedley Butler