PS3 no longer plays Blu-ray or DVDs but other than that how was your day?

[FilmmakingFiasco]

I have been having a small problem for the past month or so. Sometimes, when I boot up my PS3 to watch a Blu-ray, the system would freeze. There wouldn't be the loading icon in the top right corner and I'd have to reset the PS3 via the switch in the back. If I let my PS3 sit for a while and come back, everything would be fine. In the interim, DVDs would play too even if Blu-rays didn't.

Well, now it's happening again but this time permanent. I have tried different HDMI cables, making sure 24p was turned off, trying to watch it with composite cables, using different TVs and nothing seems to work.

Once this morning, I got a Warner logo to appear on Terminator 3 but nothing else. I have tried both BD-25 and BD-50 discs.

Currently, I am using a Sony SXRD 60A2000 via 1080p plugged directly into the TV.
UPDATED I guess I left out the most crucial detail: I'm using a launch 60gb PS3.

To clarify, my PS3 loads up the XMB, plays PS3 games, downloadable games, AVI files and PS2 games. It doesn't load Blu-ray or DVD. This makes me think it's something direct with the 'movie software' more than anything else.

Would this be something possibly resolved by a reformat (I don't have a hard drive for back up) or is it more regulated to firmware?

I've tried browsing and searching for this topic but only seem to find others who don't have the right resolution settings or have 24p issues.