Seems some (note: SOME) PS3 models are a little on the defective side: they whine. Loudly. A high-pitched, annoying whirring. Some posters over on the official US PlayStation boards have done some digging on the subject, compared notes and two particular serial numbers seem to be the cause of the issue:

I think it's safe to say that if you're buying a new PS3, try to ask for a unit that does not have a serial number that starts with CE133212XXX or CE133190XXX. It's possible that it will be a defective unit. Of course this doesn't mean that all units with those serial numbers are defective, but the defective units appear to be in that range. Best to be safe than sorry.

Not a major "OMGPS3SAREFUCKED" issue, just something to bear in mind if you're thinking of picking one up in the near future. Pays to do your homework when you're making such a pricey purchase. Luke Plunkett

Playstation 3 making a high pitched whine noise? [US PlayStation Forums, via Opposable Thumbs]

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