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My original 60 GB unit gave up the ghost just under 2 years of pretty heavy use (to include about 6 months of 24/7 Folding@Home).

The refurb unit SCE sent me back in Jan 2009 has been working fine without issue. Disassembled it once to clean it out, and replace the factory TIM (still wet = good) with AS5.

It's a power hog, but the 4 USB ports, card readers and even PS2 BC were conveniences I'd forgotten how nice they were back when I was using a 40 GB unit as my primary PS3. The 40 GB SKU also died.