Logic Board Replacement - Help!

My 2011 MacBook Pro, 2.3ghz w/ AMD 6750M just died last night.

What happened: I was using a 24" LCD monitor attached to it with my MBP closed sitting ontop of a Rain Mstand like this. I had a few windows open between Chrome and Firefox, and a couple flash video streams playing. Nothing processor intensive (not like converting video in handbrake or anything). The screen locked up. I turned the MBP off and restarted only to notice thin grey horizontal lines at the boot screen overtop the Apple logo, exactly like this.

Booting to Mac OS was now unsuccessful. I tried resetting the PRAM and SMC but neither did anything, the grey lines continued to appear.

I tried to hold 'option' at boot to specify which disk to boot from and did show me my boot drives. The lines continued to appear overtop the icons These disappeared once I was now able to boot into Mac OS, however at this point the fans turned on at full speed. The MPB froze up again after a couple minutes.

I tried booting again, but wasnt able to get past the boot screen. A few more tries to turn it on and now it wont go past the boot screen at all and the fans dont turn on either. Essentially, now nothing happens.

The laptop is basically in mint condition, it doesnt have a single scratch or ding, its only got about 150 charge cycles and has always had an Incase hardshell case over it. Its been *very* well taken care of.

I'm almost positive the problem is with the video card and I fear I need a new logic board. I've searched on ebay for a used logic board with the same specs but I can't find any that have the same one with the 6750M video card and I'm not sure how to gauge how much it will cost me for repairs.

This is actually either my 3rd or 4th MacBook Pro on my current (or possibly expired) Apple Care. I had logic board problems 2 or 3 times (i dont remember) on a 2010 MBP and was without a laptop for about a month or so and many trips to the apple store. Eventually they just gave me a new 2011 laptop due to all the problems. And now this. I did have Apple Care purchased in 2010 and am positive it carried over to my 2011 replacement laptop, but am not sure if its still valid (its never shown as valid with the 2011 MBP, but I never made anything of it as I figured it'd get sorted eventually and I wasnt having issues anyway).

Can anyone please help and what I should expect?

 

$700 isn't too bad between that and a new laptop. I can easily live with that. I hope I get lucky with my Apple care... I do remember it being either until end of 2013 or possible early 2014.

Did you have the same laptop as mine do this?

 

Damn... Well, at least you got a new base 15". Personally, I dont even want a new base 15", I dont like any of the new retina MBPs for the lack of a secondary bay to have an HD and SSD at once. Ideally I just want a new logic board and continue to use my current laptop, I'm more than satisfied with it.

 

Went into the Apple store today... Its going to be receiving a new logic board. Cost is actually not overwhelming:

Logic Board: $493.00
Labor: $39.00
Tax: $69.16
--

Total: $601.16