From my experience, the solder reflow is only a temporary fix for the YLoD. But if you're interested in getting your data (game saves or whatever videos, photos, etc.) off your system HDD, which can't be recovered externally without hacking the file encription (good luck with that), the reflow fix can give you enough time to save the data off your HDD.
There are things you can do to extend the length of time that the fix works by improving heat dissipation over original factory specs.
The simplest improvements include changing power supplies to the APS-231. The 60GB OEM PSU generates much more heat and has a peak wattage that exceeds what the console actually uses, even at full load.
Swapping fans from 15 fin to 19 fin improves airflow circulation.
Lastly, replacing the factory thermal paste (which dries out) with a quality TIM is the easiest and cheapest improvement of the three.
When reflowing the solder joints on the GPU/CPU, use non-corrosive flux (made for circuit boards, not electrical wiring), with the easiest to use being a flux pen available at any computer supply outlet. It helps keep reflowed solder from going brittle.
But all the above are really only for those who insist on keeping their 60GB unit, whether it's for sentimental reasons or you really place that much value on PS2 BCC.
I sent my 60GB SKU in for a refurb well over a year ago without problems since (it's been a secondary PS3 since then and sees minimal use). If the fans ever start to sound loud, I'll probably do all the above fixes myself.
I've repaired a 40GB SKU numerous times, each fix lasting a different length of time, which only stresses the relative unreliability of the reflow fix itself.
Good guide linked below for keeping the older PS3s cooler.
