Latiosmaster47 posted on Jan 29, 2009 5:39:19 AM - Report post
In the research I've done (googling for a few mins) it's apparently a blu-ray player issue. Some say it's a lense issue, but most agree that it's some sort of hardware malfunction. According to the few threads I've read, Sony will either repair your console or replace it with a refurbished one if you send it in. You can also get your data back off your PSN according to a few responses I've read.
I'm not sure on the credibility of my info, but sending it in for repairs or calling tech support certainly can't hurt.