The thread  title says it all.

Any advice. I need help on what to do.

Noc, IMO, the best thing you can do is sell the console without harddrive on ebay, and get the new model due out in a month or two.
I have a YLOD ps3 here myself, and I'm going to do the same thing except for the fact that I already have a replacement.

contact sony to see if it is under warrant or if you can pay them to repair it. You can also contact a computer repair and see if they can repair it cheaper than sony. or you can repair it yourself.

http://community.us.playstation.com/t5/PlayStation-3-General/YLOD-REPAIR-GUIDE-NEW/td-p/4451455

good luck! I would recommend self repair or a computer repair as those will be the cheapest options.

its dead. best to do what theprof00 said, unless its under warranty? call sony and get it replaced for free. did you get to backup your saves?

Is the towel trick applicable to PS3s? Maybe you can revive it and sell it at a gamestation, or keep it some months more until the new model.

I can't call sony because I am in asia(Philippines). My warranty is off because it's 3 years already and I bought it in Singapore when I visited there sooo. All the odds are against me.

There I just want a quick fix (if there's any) because my system is still kicking because I was able to remove my game on it.

It always shut downs when the PS3 is trying to check if there's a corrupt data.

That's the saddest part I didn't back up my saves.

Only thing is opening it up using the gilksy method, it's not permanent, might last a month, but at least you can use that time to back everything up and put it into a new PS3. 

I just kept doing it to my PS3 after about the 3rd or 4th time doing it (got about 3 months out of it) I was screwing in one extremely important screw and the head snapped off half way in the hole -_- couldn't do anything about it, put it all back together it just immedialty over heated (my god that fan screams loud) and was pretty much the end of it. Bought a Slim been going 2 years strong, great machine.

My advice, do the gilksy method, back up your PS3 on a HDD and just keep playing your PS3 normally (saving often). It'll probably YLOD a couple more times but just keep doing it until the new Slim PS3 releases (it's almost garuntee to have a nice price cut, the 16GB should be dirt cheap).

Thanks! 

Gamescom can't come soon enough!

This is actually what I did to back up everything. Make sure you backup and do nothing else though. Gilksy doesn't last a whole long time, and works a whole lot better if you replace the whatever it's called silica or something on top of using the heatgun. Do NOT use a hairdryer.