My PS3 choked and died.

Or atleast I think it has. I was just hoping someone could shed some light on the matter for me. Its what people call 'The Yellow Light of Death', basically I turn it on, it flashes yellow, bleeps and shuts down. And Fallout 3 is stuck in there (some people have told me it 'bored' the PS3 to death, ugh) so I'm left with a shiny black box on my desk.

So whats the problem? Has it over-heated? Has the HDD broke? I've read online of peoples theories to what it is I'm completely lost. So if someone knows what the problem I'd much appreciate the info. Cheers!

Had the console 15 months. I make sure its ventilated an all that. It was a 40GB model and they're apprently the worst model. Not yet phoned Sony but will be doing tomorrow.

Oh well. Cheers for the info guys. Will bephoning Sony tomorrow to get it sorted. £150? Oh joy :P