erm, i don't have a ps3 but i had something like this happen with a ps2. what had happened was the laser had come loose inside the console, and the console would spend ages trying to realign the laser. if the ps3 is still in warranty then send it back. if it isn't still in warranty take it down to an electronics repair shop, you should be able to find one locally. but first make sure they've got experience with ps3's. when my ps2 broke i took it down to my local repair shop and they didn't have a clue what a ps2 was, not a good sign. so i fixed it myself. But, only try to do it youself if you have a fairly good idea what's wrong and how to fix it, and you're confident and competent around electronics and high voltage. there you go, its not my fault if you die.

I say suplex that mo fo ps3!!! But seriously I kinda feel your pain. My smash bro's don't work with my wii and I got to wait three+ weeks for it back(still got my box ps3 and psp oh and my rig lol, so not really that pissed but a little!!) which kinda sucks. Call sony dammit. I must say that there customer service has always been good IMO. Even if it's out of warrenty it's still gonna cost less than getting a new one(plus yours is a 60gig) Has any one found (with 40gb ps3's) that now you have it you want to play ps2 games but can't!