Hi there. I've been having this problem for some time now. My blu-ray drive works just fine with all the discs for about 20 minutes and then starts doing this:
At first I thought it was a mechanical problem, but after opening the drive everything seems to be working fine. I cleaned the lens and dusted off the drive, but the problem continues.
Once, after inserting the Batman Begins blu-ray the film didn't even start, but instead i got the 80010514 error. I looked into it on the internet, I tried rebuilding the PS3 file system and, strangely, the drive was working for almost 2 hours. Then the glitch returned.
At first I wanted to give up, but since restoring the file system worked (at least a bit) i'm starting to think it may be a problem with blu-ray drivers. What else can I do from the software side to fix it?
Yes, i restored file system, it worked for some time but then broke down again. I also rebuilt database, but that didn't change anything. Isn't it that when your laser is down it doesn't read at all? Mine works fine for a couple of minutes, only then stops.
Not sure if this is a similar problem, but there's a 12 page long thread on the official playstation website with lots of people having problems with their ps3 slims not reading blu-rays after the firmware updates from the past year or so.