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Upgrade the HDD.

Its all a matter of betting on failure.

Choice 1
Spend hundreds now on a new PS3 when a PS4 is coming out a little over a year from now.

Choice 2
Spend $80 now on a new HDD and upgrade the PS3. Taking a very logical and realistic chance that the PS3 won't break and you can then spend the saved money on a PS4 in a year. Worst case it does break and you can simply buy a cheap used PS3 to last until the PS4 launches.