Hi all 
This thread is NOT designed as a discussion thread - I've posted it up purely in an attempt to try and get all the suggested solutions into one place
That will hopefully save having to re-type all the options each time someone asks what to do 
This thread is also written for owners in the UK - owners elsewhere may have different options, or different laws that apply, but I don't know those in any detail at all - sorry! 
Please note that it is NOT designed to look into WHY your drive failed 
You have MANY options, and I have tried to list them all below.
I would suggest trying option 1 first, just in case, but after that you can choose any of the others, and I have tried to detail the pros and cons of each option to aid your choice
Wait for Sony to release a firmware update to fix it
I haven't bothered to give this option a number, as the chances of it happening range between zero and nothing.
I'm most definitely going to side step the whole issue of "firmware 3.x" or "game XYZ" broke my blu-ray, but suffice to say that once it is physically broken, it is broken
No software fix from Sony is ever going to be able to resurrect a blown laser lens or motor
That said, SOME blu-rays do stop working because of corrupt drivers in the PS3, which is why I have included option 1 below.
But if that doesn't work, you have a hardware failure - and no amount of software fixes will ever resolve it
1) TRY a safe boot, option 3, restore file system. This doesn't often work, but is free and doesn't do any harm http://boardsus.playstation.com/playstation/board/
Be careful when doing this, as selecting the wrong option will wipe your HDD - removing all game saves, music, photos, PSN IDs - the lot!
Don't blame me if you choose the wrong one or it wipes your drive!
2) Check if your PS3 is in warranty. If it is - claim!
All PS3s come with a 1 year Sony warranty from new in the UK.
Some retailers give a 1 year warranty on pre-owned PS3s
Some retailers offer to sell extended warranties when you first purchase the PS3 (new or pre-owned)
Sony used to offer 'continuous play' which was a rolling warranty - but they stopped offering that becuase it was being abused
But basically, if you have ANY kind of warranty, claim on it
See the later posts for what to do with your save games etc first though, before sending it off, as you will be offered a repair, or a replacement
3) Return to Sony (replacement)
Call Sony - who will quote you between £100 and £140 to replace it (for a refurb with 3 month warranty). A refurb is a unit which has previously been sent back by someone else and has been repaired with new parts as required and put in a new case. A van will arrive with it, and take yours away, never to be seen by you again.
Again, see the later post for what to do with your games saves etc before sending it off.
Pros - you will get a shiny new (looking) PS3 of the same model as the one you send them. So if you send them a 60Gb, you will get a 60Gb back.
Sony refurbs come with an intact Sony warranty sticker (which may be important if you wish to sell it at a later date)
Cons - although Sony claim to make no profit on this, it is rather expensive
You only get a 3 month warranty.
You don't know why the previous owner returned it (YLOD?) and therefore what the chances are of it breaking down again in the future.
4) Return to Sony (repair)
Call Sony and ask for a repair. Sony sometimes do this (same price ish). It has the advantage of getting your PS3 back (if they can fix it) - but it takes 2-3 weeks typically.
I believe you get a 3 month warranty with repairs
Pros - you get your console back. Which means that (in theory) all your game saves etc should still be on it
As with replace, the console comes back with an intact Sony warranty sticker
Cons - the time delay
As with replace, not a cheap option
5) 3rd Party repair
Much the same as a Sony repair (so read that post above), except:
Pros - 3rd party repair will probably be cheaper
may be quicker (check first)
may have a longer warranty (non Sony), but check first
You get your console back, so save games etc are still there.
Cons - no Sony warranty sticker
6) DIY fix
So.
You blu-ray drive has failed - and you want to fix it yourself....
First up, you need to discover if the lens has died, or the motor.
Does your PS3 fail to read ALL discs? Blu-Ray, Games, DVDs and CDs? - chances are that it is the motor.
Does it not read Games and blu-rays, but is happy with DVDs? (or vice versa) - chances are it is the lens at fault.
You need to know this, as you can purchase either just the lens unit, or a combined lens and motor unit.
Buying just the motor unit seems to be impossible
So if you buy the lens unit, and then later find it was actually the drives at fault - you have to buy both lens and motor (ie you end up with 2 lens units...)
To complicate things further, different model PS3s use different laser assemblies
Some have a single lens, some have dual lens - and the two types are NOT interchangeable.
Without going into detail of what model has what (the only way to know for sure what you have is to open it up), these are the available types:
KES-400A = single lens unit
KES-410A = dual lens unit
KEM-400A = single lens unit with motors
KEM-410A - dual lens unit with motors
New Slim model PS3s use the -450 lasers and motors, but Slims are still all in warranty at time of writing this
Costs are typically £50 - £60 for lens units, or £10-£20 extra for the lens and motor units.
Pros - a DIY fix will be cheaper than any other method
Unless you really muck things up, you will not be touching your HDD, so all your game saves etc will still be there.
You get to see what the insides of your PS3 look like 
You can give it a good clean (compressed air / vacuum) while you have it open.
Cons - although not incredibly tricky, you will need some level of technical ability to do this.
Personally I used this tutorial when I did mine - http://forum.blu-ray.com/blu-ray-games-ps3/70948-u
Obviously, to do this, you need to open your PS3 - immediately removing the Sony warranty sticker.
NOTE without a Sony warranty sticker, you will NOT be able to claim under any warranty or SOGA (see later post)
That is a VITAL point to note!
Because you are opening the PS3 and playing with the internals, there is a RISK of you killing it altogether.
Son't say you haven't been warned!
And don't blame me if it all goes horribly wrong
NB. Do not be tempted to buy a complete new blu-ray drive.
These are more expensive, and the drive itself contains a board which HAS to match the PS3 motherboard.
Whilst it is possible to take this board out of your dead drive and swap it into the new drive, this is fraught with even more issues, as some drives had the board internally, some externally.
You might as well save the cash and get the units described above.
7) Sale of Goods Act (SOGA)
a contentious one...
Need to start this post off by saying:
I am NOT legally trained, I have NOT tried this, and everything below is simply a summary of what I've picked up over the years and from other people's posts in this forum
Basically, SOGA gives the customer rights to expect that when they buy something it will not have aninherent faults, and gives you these rights for 6 years.
Unfortunately, if your PS3 fails, under SOGA you have to prove that you had an inherent fault when you bought it...
SOGA applies to the retailer, NOT Sony.
As such, if you bought your PS3 from a private seller on ebay - you're stuffed
To invoke SOGA you need to:
Have the receipt (or at very least some proof of purchase, such as credit card bill, bank statement, or suchlike) - without this, you are stuffed.
Take your PS3 (preferably in the original box, with all leads etc - if only to show you mean business ), back to the retailer.
You may wish to do this on a busy Saturday afternoon, if you have the personality to state your case in front of lots of people
Or you may wish to choose a quiet moment if you are more shy
Make sure you are clear in your mind what you want or would accept from the retailer.
Would you accept a pre-owned 40Gb for your dead 60Gb?
Would you accept money off vouchers?
Start of (and throughout!) with a reasonable tone - "My PS3 that I bought from you is dead, and I wish to return it".
This will normally be greeted with a "sorry, you can't"
"I wish to return it under the Sale of Goods Act"
At this point, things will vary
If you are lucky, they will get you a new one (new / pre-owned) or vouchers to the value of £X
They may call over the manager
They may still refuse to do anything.
If you do not get a result, you need to progress to the next level, which normally consists of contacting their head office.
This is a rather complex process, and I'll do another thread on it with more details
Pros - cost to you is potentially zero
new (to you) PS3 has an intact Sony warranty sticker
Cons - it can take time and effort.
You get a new console (hopefully!) - so issues with game saves etc
Not all retailers will roll over, no matter HOW much you push them.
Unknown length of warranty on this replacement PS3
Biggest issue
Retailers are NOT obliged to do anything, unless you can prove the inherent fault.
Whilst an engineers report (which will cost you, although you can threaten to claim the cost back) may well confirm that you haven't dropped your PS3 / dunked it in water etc, I have yet to hear of ANY report that went as far as categorically stating there was an inherent fault
8) Buy a new PS3
Obviously a tad extreme solution to a dead blu-ray drive, but it might be the impetuous you were waiting for
Pros - you now own 2 PS3s!
You can sell the dead one once you have all the data off it
You can use the 3.15 firmware option to transfer ALL data onto the new PS3 (including locked saves, but maybe not singstar songs)
You can buy an extended warranty at the same time (from some retailers)
Con - selling your old PS3 takes time and effort
You will obviously not get a HUGE amount of money for it (at time of writing, PS3s with dead blu-ray are going for about £80 on ebay)
You need to be careful about how you describe the fault (ie VERY clear!)
You need to watch out for scammers who buy your PS3 and then claim they didn't know it was broken, and send you back a VERY dead (YLOD?) PS3 instead of the one you sold to them...
Moved:
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