Depends on the amount of cumulative damage already done to that logic board.
Technically, EVERY piece of electronic equipment has a very finite number of hours (mean time before failure) before it stops working. It's only becomes an issue when a piece of equipment fails long before it should be replaced. Personally, I say 2-3 years is too short for a console, especially one that many paid $600, $500 and $400 for. But then again, the average amount of time before failure for PC laptops is supposedly about three years, but they often get replaced or supplemented right around that same time frame, making it seem less of a problem for anyone who doesn't intend to grandfather their computers.
Theoretically, if you could keep your console running very cool from day one, it wouldn't go through those extreme shifts between hot and cold that typically does chip solder joints in over time. While a high quality TIM will reduce those temperature shifts, it would probably make the most difference if applied when the console was brand new or had very few run time hours on it. Applying it to a logic board that was already damaged from use is probably only delaying the inevitable.
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