I've resurrected several PS3s by reflowing the GPU soldering joints. I did the process enough times that I became proficient at tearing them down to the bare logic board to access the chipset.
The only problem with reflowing is that it is still using the same factory solder, and more importantly, the high heat dump generated by the early PS3 chipsets remains the same. Over time, the same issues that made the factory soldering joints fail, will inevitably surface again. It's really just a question of when and how much time did the reflow or even reball buy.
If you have any data on that PS3 HDD that you want to recover (limited to game saves, video files, music files, etc.; game installations are keyed to HDD/logicboard to prevent easy piracy), do it now while it still works properly. If you want to transfer purchased content to a new PS3, now would also be a good time. You could continue to use the old CECH-A01 model as your PS2 and secondary PS3.
The repaired PS3 could last another 6 months, maybe less, maybe more. 6 months was about the longest I've had a self repaired PS3 last. I've had a factory refurbished CECH A01 YLoD on me between 1-2 years by comparison.
The only way to address the heat dump from the chipset is to use a higher quality TIM on the GPU and CPU when remounting the heat sink, which is good for 3-5 degrees cooler run temps under optimal conditions, and to simply run the ps3 in a cooler area with better airflow. As wacky as it sounds, if all the YLoD and RRoD consoles had been running under active refrigerated conditions, they probably would have never failed due to thermal stress.












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