Hello All , I have never posted on this site , but recently I have run into problem and need some help. My 60gb launch PS3 died after 2 1/2 years. I have come to terms with the fact  that I must pay 150 dollars to fix it and loose all my saved data. I am worried to do this, though , because I have heard that they give you a refurbished system back. From what I read most of the YLOD problems have occured in 60gb models they may even be exclusive to them, although  I could be completely wrong. So another idea has occured to me. E3 is approaching and its possible that they will cut the price. I would rather pay 300 dollars for a new PS3 that will run for the rest of its cycle, than 150 for a refurbished system that will could break again. 

So I want to ask you guys a few questions. 

1) I make a few assumptions in this post are any of them wrong?  DO they really give you a refurbished systems when you send them in to repair?  Is the YLOD exclusive to 60gb models? Is it more likely to YLOD on a refurbished system?

2) What would you do? Is it worth the wait for a possible price cut, and will a 300 dollar new console be signifigantly more reliable than whatever Sony sends me back ?

I'm sorry for your loss.  I'm not sure what I would do.  I've had my 60GB PS3 since launch and it is still kicking.  As far as I know though, they have to try and repair your specific system unless they otherwise let you know that it is beyond repair.

This is what I have heard/read though, and I would want to spend as little as I possibly could, in order to save more money for games.

Yes, they send you a refurb. And I would pay for the repair....I fear for my launch 60gb with all of these stories. External HDD time!

I would keep it because

1. 60 GB PS3's are one of the only models with almost 100% Backward Compatibility with PS2 and Playstation games.
2. Newer systems lack SD-mini slots, and the Chrome Trim.

Thats why I would keep it.
Knock on wood for my 60 GB PS3 which I bought in January '07!

Dude I'd spend the $150. Even if the price drops to $300 thats still double what it costs to fix it. And you're not going to get a poorly re-furbished console from Sony, it'll work for sure or they wouldn't send it to you. They aren't Microsoft.

The ONLY way I'd say wait till E3 is in case they announce a SLIM PS3 for $300. A slim one might be worth the extra $150 but its not worth it for a regular PS3.

Yes they give a refurbished PS3, and yes YLOD issue only occurs in the 60gb and 20gb models, so all new PS3's are fine. However the refurbished PS3 they give you will not get YLOD, but if I were you I would wait after E3 (less then a month) and see if Sony announces a PS3 slim and/or a price cut.

had same thing happen a couple weeks ago. cost $190 canadian to fix it. had to replace the bluray drive and the motherboard and some other things. i live pretty close to the repair center, so i was able to drop off/pick up the system myself. if you will be mailing it, then you should be able to request your specific console back. they replaced pretty much everything in it, so its essentially a new console in the same case.

on the playstation website, there is a service called continuous play, pay £4:99 a month and if anything happens accidental or just fails after manufacture warranty tell them they come pick yours up within 2 days, and one the same day drop one off, I haven't read it properly seems good though, and as its on the official sony website it must be legit

 i got the ylod on my 80gb

@Ninjablade, do you have the old 80gb model that can play PS2 games?