What are my options for PS3 replacement

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hey guys, well my last post was about my ps3 and the dreaded red blinking light, I should get my replacement from Sony in another 2 weeks or so, that cost me $150 but it only has a 90 day warrenty, if it blows out on me again, im screwed, so Here what im going to do...

Sell the replacement im getting from Sony, with a controller for about $300, im sure i'll be able to get at least that much for it as even a used one from EB games cost $350. Than I will just turn around and buy a new one with a 2-3 yr warrenty that way im covered. basically just spending another $150 in extra expenses... If my ps3 dies on me again i'll have to spend $150 again anyways so I might as well go this route.

Any reccomendations guys?? what should i do here... I just dont want to be screwed again, no ps3 for 3 weeks... Is this a good idea And what ps3 should i get.. 80gig or wait for 160gig bundle?