We received an email from a listener warning us not to update to the latest version of the PS3 Firmware. Our listener Brain upgraded and had the following to say about it,
"It has totally bricked my unit, i knew the problem right after i updated, ad I could not do anything about it. I could hear the drive being over worked, and when i ejected the disk. It was WAY hot."
As it turns out the issue is affecting older machines. Ones with the original chipsets. The firmware was released to decrease the Blu Ray disc read times.
If you have an older machine and have firmware 2.8 do not upgrade to 3.0 or 3.0.1. There is a large discussion about this on the PlayStation Discussion Boards (Start reading at about page 20 for discussions pertaining to this issue).