Hi, big problem here. I have the CECH-L01 40g PS3; I took out the hard drive (don't ask me why), and formatted it to FAT32 with the PC; I replaced it in the PS3, and now everytime it boots it tells me "the system software cannot be run correctly" and it asks me to reinstall the system update. I tried to do so, it finds the update on the usb and "prepares" to install it, after 100% it boots and goes back to "please reinstall system update". In safe mode, I tried the first options (rebuild files, database, etc), it just booted back to the same problem. When I try "restore PS3 system", it tells me "the hard disk cannot be accessed". I used EASEUS Partition Master; when I first took the drive out of the PS3 it showed the drive as unallocated space. I tried creating FAT32 partitions, fully erasing the drive (not quick format), nothing works... I'm starting to panic! Please note, this is the original hdd, and it isn't fried,Iv run chkdsk & I can still access it fine in Win7. Please help, any thought would be appreciated!