I thought the rumors surrounding the $99 pricedrop were desipated when the playstation two dropped from 129.99 - 99.99. I doubt sony will be in such a hurry to slash their prices of yet another product.
Just out of curiosity -- do you keep your system vertical or horizontal? I have mine standing vertically since I bought it. I probably average about a couple of hours on the machine every other night. I'm not sure how much use your system has gone through; but I assume you probably use your PS3 more than I do.
Do you think it's a manufacturer defect or could it be due to overheating or dust? @Dare9498 - since you've only had it for half a year, your system should still be under warranty.
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