That sucks, dude. My first PS3 died on me a couple years after buying it... but that was totally my fault.
See, apparently, I didn't realize that leaving my PS3 running all day, every day, and leaving the same game (and sometimes the same SCREEN) running all day would EVENTUALLY cause the darn thing to fail. That was spectacularly dumb of me. But the thing is, it never really broke COMPLETELY. I'm not sure exactly why, but games with 3-D graphics, like Borderlands and Batman: Arkham Asylum, started spazzing out and getting weird graphical problems involving characters models getting stretched out to wonky proportions. Eventually, it got so bad, that certain games just flat-out froze at certain points (Borderlands was the worst offender). But games that used 2-D sprites, like BlazBlue, seemed unaffected.
So I can't really fault my PS3 for my dumbness, and if anything, I think it's pretty impressive how long it lasted considering the stress I put the thing under.