Owners of early PS2 models purchased from launch until spring 2003 often reported faulty optical drives in their consoles. The earliest drives suffered from a constantly misaligning laser lens, but later defects were the result of a shift in voltage to the laser. The first problem was easily remedied by opening the console's casing and tweaking a cog that controlled the lens' distance from the disc. However, this action voided the console's warranty. The second problem could be fixed by using an oscillator. After many consoles had broken down, a class action lawsuit was filed against Sony. Sony agreed to provide free repair or replacement for the faulty consoles and continued to do so until February 2005.
Another problem that could cause a disc read error is wear on the coupling in the head assembly to the worm gear that moves the laser. A symptom of this is a loud repetitive clicking sound. However, this problem rarely occurs on newer consoles
Every system released since 2000 has had problems of some sort, even the GCN and Wii. The difference being of course that the internet has 5% fanboys and 95% consumers. The 5% fanboys of course are the loudest demographic of complainers, haters and exaggerators and these stories get passed on from person to person. It's like the evening news that way, only the gory, dirty, sneaky, illegal and unethical get air time. No one wants to discuss good fun and reliable hardware, or the great service they got.
Does that mean I'm defending the X360? No, it means I look at it realistically. No company could survive if they truly had all of the problems the internet seems to dump on them. Sure there's shitloads of dead 360's, M$ may have fumbled the ball but damn did they ever come through and make the consumer feel good with a extra 3 year warranty.
Think of it this way, Microsoft's
voluntary warranty extention is longer than Sony's
lawsuit settlement one.
Edit: Sony has made it clear that the company is not accepting any wrongdoing in agreeing to the settlement, telling US website GameSpot: "While we are convinced that there is no problem with these models and that we would win if we defended this case through trial, we have agreed to settle these lawsuits to avoid the extraordinary high cost of cumbersome class action litigation."