1 - 2 horas
I got a 1 gen ps3 for free from a coworker, when he where thinking about throwing it. I thougt it would be a waste of parts, and where thinking about taking obly the "skin" and mod it to my 80 gb ps3 with a sleek paint job.
Out of my naturly curiosity, i started google the error blink, and found this site and kit. It must be the best spended money ever :D
easy fix, followed the guide, and it worked 30 min after i started assembly the ps3 :)
be careful, and follow the guide. If you are in doubt regarding the resolder, just make sure its hot enough, and take a couple of rounds extra :)