This is a method for people like me, who have an old YLOD PS3 lying around taking up space. I have a working PS3, and I had nothing to lose if I messed it up. It was already dead. This process worked like a charm!! In fact, I plan to get another kit to fix my other YLOD PS3.

This guide is FANTASTIC! I had pretty much written off my 2 YLOD PS3s. I had replaced them already with a 3rd PS3, but now I have brought my original (1st lot) PS3 back to life! I have been playing it for several hours at a time to see if it will hold up and everything is great so far. I will be buying another kit to revive my other one very soon. Thank you ifixit!