My play time suddenly ended yesterday when the PS3 decided to go all 'borked' on me.
Same problem, the feared YLOD (yellow light of death, and 3 beeps).
I'll be on to Sony UK Customer Care about this, since it was only replaced in December 2008. That was a factory refurbished unit apparently, but it looked like new to my untrained eye. So that's 4 months use... for the flagship product.
There HAS to be a design fault with this 60Gb model. Friends that have the 40Gb model have had no problems.