Watcher Watchmen

You’ll have to completely disassemble it all the way down until you can expose the CPU and GPU chip. Clean off the old dried up thermal paste off the chips and heat-sink and reapply your brand of choice. I’ve done this on my own PS3 as well as multiple laptops that did the same thing. Most boards have a temperature limit and will auto power down when the chips exceed the max temperature. It’s a safety measure design put into most boards so that they don’t self destruct.

Spray some water on the belt with a water bottle when the engine is running. If the noise goes away, then it's a misaligned or worn belt . If the squeaking or squealing continues after being sprayed with water, it's a bearing on one of the pulleys or components bearing, such as the a/c compressor or the alternator bearing. Belt misalignment can usually be seen by an uneven gap between the belt and each side of the "valley" of each pulley, or an excessively worn idler pulley, which is seen on older vehicles when the plastic wheels will wear a "lip" on each side, causing the belt to slightly twist. Whatever you decide to do, just replacing the belt might buy you a little time before it starts squeaking again, but it's a band-aid fix. The more important part is finding the CAUSE of the squeaking, rather than treating the symptoms. You can lay a straightedge ruler across each pulley from different angles to check, or just close inspection and listening usually shows what pulley is the culprit. If you decide to...

The "CPU" that you are referring to is actually a metal cover that acts like a heatsink. It has thermal paste between it and the actual cpu, as well as thermal paste on top of it. If you decide to pry it off, you will need to buy a heatsink glue/epoxy product to glue it back over the cpu.

You need to connect it to a normal computer to format it. After it's erased, reinstall it in the ps3 and it will load the required data. If your computer doesn't have the sata connectors, you can buy an external usb drive holder to do it with.