So I'm getting my PS3 soon and I want to know if I should update it at all, because in alot of posts, I read bluray drive failures after update and the likes and how sony demands 150$ to fix it, even though it was their own fault it happened...
Well, the updates do do a lot in terms of increasing the versatility of the PS3, as well as making things more efficient and stuff, which is what firmware updates are supposed to do anyway.
I'd say it's up to you. Take a look at the updates and see if you like any of the new features that've been added. There've been a LOT of updates, though, so it'll take you a while.
They only want 150 bucks to fix it AFTER the warranty is expired, or if you've lost your receipt MAKE SURE TO HOLD ONTO THE RECEIPT a lot of people make the mistake of chucking it out and didn't figure they'd need it with the warranty but it the proof of purchase that you need for the warranty and also shows the date bought.
imho, if you don't update you're just going to be wasting your money. Its like buying a new car and keeping it locked up in the garage and occasionally going out and revving the motor because you're scared that if you drive it you're going to crash it even when the chances are slim to none.