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Il Mio Problema
I got the PS3 yellow light of death on my PS3 I got a couple weeks after launch. It died 3 days before Christmas and then I got PS3 games for Christmas, so I figured I better try to fix it since it is out of warranty and I didn't have much to lose.
La Mia Riparazione
Success! I kinda can't believe it worked, but it did.
Il Mio Consiglio
Go for it. It is a rewarding experience if it works, and it is just fun to see what goes into the gadgets you use.