PlayStation 3 60GB System
Yeah its like a heavy 500lb lift every time you pick it up, Yes it had and has over heating issues but you know what? THIS IS STILL THE PS3 MODEL YOU SHOULD GET. Why you ask? Because what most kids don't understand is that Sony Corporation Japan set out to make the best all-in-one console they could make upfront. Sony gave us the best version of PS3 in the very start and from there they began to strip away features.
Remember, the first Gen PS3 could read any type memory card, had 4 USB ports, an On/Off power switch and above all could read PS1/PS2/PS3 games. The younger kids are looking at the new models like "Whoa, its lighter and slimmer" not realizing Sony just stripped away and Dumber downed the capabilities of the system by removing the Chip set that was dedicated to reading the PS1/PS2 games and the memory card reader slots.
Lots of fans including myself had some gripes about the first Gen PS3. Mainly the over heating was a problem which led to other problems like the YLOD (yellow light of death) and the Backwards Compatibility would not work sometimes. What most people didn't realize is there are fixes for the over heating problems.
For example, My PS3 has not only an external cooling fan to pull heat out but it also has a Bigger, Better Fan inside and it has Thermal Padding on the CPU. For those that don't know what Thermal padding is, It is a soft clay like material that acts as a heat sink for the circuits on the PS3 motherboard. We all complained that the 60GB hard drive was too small to hold all the downloads and game data but Sony made the hard drive easily replaceable by even the most novice gamer.
I replaced my 60GB standard laptop type drive with a 240GB Solid State Drive. It only took 10 minutes to change the drive, literally removing the drive cover, 3 screws, switching the drive, putting it back in, restarting my PS3, formatting the drive and done.
So to make a long story short, If you are looking to buy a PS3 don't be suckered into the slim PS3. Buy yourself a 1st GEN. PS3 for around $200usd and take it to a repairman to fix it up with these minor upgrades and you will enjoy that system for years to come. Everything you need can be purchased right here on Amazon.com for reasonable prices. You can also get some YouTube video tutorials on how to do this all yourself and save big on the upgrades. Either way you decide you will have made the right decision if you buy the 1st Generation PS3.
**UPDATE 11FEB2013 - Here is a guide to help you fix and extend the life of your PS3**