As the title suggests, my ps3 is most likely dead. although I can't be too sure. Here's the story: one day i was about to watch netflix,and while i was serching for a show to watch graphical glitches started to build up, I knew this was bad so i turned off my ps3 and waited a bit. after a good while I started up the system to get a black screen of death. as some ps3 owners know this is basically a hard disk error, and so i went into safe mode and picked several of the options untill i tried the fifth option which too my knowledge restores the disk drive to factory default and fixes it up(?). i chose this option because i would rather loose save data over loseing my ps3. Of course that didn't work totally right, and instead i got this:

so, my thoughts on this:
1. it's still a disk error and in that case all i have to do is replace my hard disk
2. the chip at some point obtained damage due to heat (what i think the issue to be)
3. the above two options apply.
what do you guys think?