2 flashing lights on the left and then it shuts

Hmmmnnn, consider the reason they pulled the rev compatible system off the market. It is possible to be getting the symptoms of YLOD without it actually happening with some games. The older games spun faster(sometimes) and made the system work harder. It could be heating up and shutting down right at the point of failure. I've seen 2 different revers compatible systems YLOD the same way. Good luck.

You need to replace the laser you can go to www.llama.com for tutorials

Ok your laser is bad. You need to replace it. Your laser has a blu ray diode which lights up blue and reads ps3 games and blu ray games. Then it has a red diode which plays ps2 games dvds cds ps1 games. Your blu ray diode is burned up. You will have to replace the laser its pretty simple.

the tray doesnt stay in. does your ps2 sit on its side where the tray is sideways, or is it straight up? i think you should try rotating it to a point where it should stay shut.

hold the power button down when it is red till you hear the quick beeps then select the file restore this is a diagnostics menu..remember you have to hold the power button down till you see a menu that youve probably never seen

the two flashing lights is the code for your console overheating make sure nothing is on top of or behind the xbox and make sure it is not in an enclosed space

Try new batteries?

I suggest you to try DIY Guide that wil explain solving the 2 flashing red lights along with some other common problems of Xbox like Disc Read Error, No Video Problem and most famous RROD. Even a novice can solve the problem with the help of step by step process given at the guide. I think it's worth trying. If you try this method, you won't have to wait for 3-4 weeks and you can enjoy your gaming experience within 2 hours, once you try this guide.......

How long were you playing it? if you were playing for a couple of hours, then it could of just overheated, in which case the ps3 will shut itself off suddenly to keep from damaging something. It should work after about half an hour, adequate time for it to cool down, if not, then you might of damaged something.

try calling microsoft again...and if no luck...then you might have to find a replacement cd drive...you can probably get one off of ebay.