Did you try cleaning it first?
Also, do you have an Electronics Boutique (EB Games) nearby?
They have a deal at the one nearest to me where they'll sell you a refurbed PS 2 for 99 bucks if you trade in your broken one. Last time I checked Sony's prices, they charged a flat repair fee of @ 140 bucks for repairing a PS2 that was no longer under warranty. That may have gone down with price drops and whatnot, but it's the reason I decided not to fix my PS2 and instead buy a 90 buck DVD player instead.
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