Yellow Light of Death YLOD PS3 Playstation 3
(bring it on, google!)
http://www.jameco.com/Jameco/workshop/diy/PS3repair.html?sp_rid=MTgyNDYxMjU3OTUS1&sp_mid=3540557
Just in case anyone needs this in the future.
My friend Bryan had this happen... He repaired his twice... and it still died. It was major surgery to fix. I decided I'd just buy a new one if it happens to me.
-C