The HDD will be formatted if you try to connect it to a PC or different PS3. Your only option is to reflow it (i.e. bake it, can find guides and such on Google) and hope that it powers on long enough to make a backup of your data.
Yeah, the hard drive in the PS3 is encrypted and will only work on one specific PS3 or it will have to be reformatted.
I'm more impressed with my PS2 slim and how it's still going strong than I am with any of the current generation consoles.
Yeah, the early models of this console generation generated too much heat, while the previous generation had no overheating issues at all. At worst the optical drive laser could get messed up, and that can happen to this generation too.
Fortunately, the current 360/PS3 slim models consume less than half (~80W) as much electricity as the launch 360/PS3 models (~200W) so they also generate considerably less heat.
I miss the good old days when a console ran cool enough so it didn't need to have fans