I would recommend buying a new Slim rather than paying $150 for a repair/refurb.
You can always try doing the repair yourself at another time if you want a second console (for the cost of a heat gun, a liquid solder flux pen and thermal paste), or you can just trade it in for a handful of cash (easy), or sell it for parts on E-bay (more effort). Home repair jobs are not a permanent fix and odds are that you will be doing another one before too long.
Couldn't venture to give you an estimate as to how reliable the SCE refurb units are (in the case of a YLoD). I've heard some accounts of failures not long after the 90 day warranty. I have a 60GB refurb unit that is still working fine, but it's only a secondary PS3 that sees minimal use.
There's not much reason worth keeping the 40GB SKU without PS2 BC unless you really just like the piano black case.
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