Before just saying it's this or that, try the easiest troubleshooting repair by replacing the power cord. Then look for a local shop to fix it. They may be able to fix it faster than returning it to Sony.
Please try just replacing the laser, not the entire optical drive. You can t just swap drives. The drive is locked to the motherboard. You would have to strip the drive key off the drive circuit board and install it on the new one. A lot of hassle and knowledge to do that. Anybody can replace the laser.
You can't just replace the optical drive. The drive is keyed (locked) to the motherboard. First start with replacing the laser. This is the easiest and cheapest step. Anyone can follow the guide on here to swap the laser. If that doesn't work, there may be an issue on the drive circuit board and that is harder to diagnose. To put a totally new drive in the console requires you stripping the key off the drive circuit board. This involves software, compatible computer and cords. Not something you should attempt if you're not computer savvy.
These are two separate pieces. The smaller one goes along the front edge of the console on the bottom casing, under the disc drive, under the motherboard. Flip it around until you see how it aligns on the casing. The larger piece goes along the right edge, on the bottom casing under the motherboard. It attaches on the right side about 2 inches from the front leading edge and rests on the bottom of the casing.
Try this. Turn off the system. Unplug it. Plug it back in. Attempt to turn on and watch the lights closely. If the red light turns green for a split second and then flashes a yellow light for a split second, and then blinks red, you have the Yellow Light of Death (YLOD). Just follow the instructions found on here for the YLOD repair.