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My original 60G CECHA01 backwards-compatible PS3, which I bought back in 2006 with an extended 2 year warranty, got the first YLOD in June 2010. I sent it back to Sony for repairs while they were still servicing that particular model, and I paid a total of $180 since the extended warranty had expired. OUCH! - P.S, I don't recall Sony offering more extended warranties for that 60G model after my extended warranty had expired. Anyways, after receiving back my PS3 from Sony, 5 years later, July 2015, The YLOD strikes again! So, I went online looking for a solution and came across IFIXIT.
The repair process went pretty good. I was very intimidated since I have never repaired an electronic device my life. Taking the PS3 apart and looking at every step in the IFIXIT guidelines was very helpful. On the other hand, putting the PS3 back together following the IFIXIT guidelines backwards like it says, it was no easy task for me, because I did ran into three minor issues along the way. But YouTube came to the rescue right in time and I was able to solve those problems.
Take your time and follow everything in order. And what I mean by that is when you take a component off the device; write it down in case you forget. Take a picture of everything you do and what parts you took apart. For example, when I took a part off, I left the screws in place so I know where the screws went instead of trying to figure out which were which and where to put them back. Watch out for those ribbon cables and their sockets as well because you don't them broken when putting the system back together.