So my PS3 just got the Yellow light of death. :
Was playing Heavy Rain demo. It just went off, and when i tried to restart the system, I get a few seconds of green LED, then a flash of yellow then red flashing. At the time I was relived thinking I had a exyended 2 year warranty with EB. Turns out it's not the case. I bought the system June 2007, with a 2 year Extended Warranty, turns out unlike most extended warranties which start AFTER the manufactures, EBs start from the date of purchase... So it expired in 2009. Looks like I'll be sending it back for repair and the 150-200AUD repair fee.
I hope they can fix it, or replace with another 60Gb model, don't want to lose my PS2 backwards compatibility...