Update by user Jun 08, 2014
After extensive research online I finally discovered how to reset the system using "Safe Mode". I had to reset the entire system back to factory defaults.
After that, re-installing the game was a breeze and the hard drive did not make loud noises.
I also discovered that GTA5 has been freezing more frequently for other users since it's last update.
The problem I was having was not related to the hardware. My unit was probably shipped with malware or malware was installed when I installed an app called "Sony At Home" shortly after installing GTA5.
I incorrectly attributed the loud noises of the hard drive to the appearance of the packages handling during shipping and the way it was packed.
Original review posted by user Jun 07, 2014
I received a Sony Playstation 3 bundled with Grand Theft Auto 5.
After the initial installation, the game worked for one day, after which the game froze.
I deleted my game data and started the game again, but it got stuck loading.
I uninstalled the game, quick-formatted the drive, then re-installed the game and it worked for about 5 minutes.
I repeated the last step and the hard drive drive made some really loud noises like the drive head was slamming back and forth trying to find a clean sector. Re-installation of the software took double the time, and the game froze when it was loading. It never ran again.
The package was not labeled "Fragile" and packing material was missing from two sides of the inner box. The outer box suffered much damage. I have to assume that something cracked during shipping and then broke after the system operated for a while.
The shipping and handling cost was $29.98 which apparently added enough urgency to the shipping to require the box to be tossed like a football, with some apparent fumbles.
This was the final straw after an ordeal of purchasing GTA4 for my PC online, downloading and installing it only to find out that my video drive was incompatible. Making an extra trip to Office Max to get an HDMI cable and adapter for my monitor because the PS3 only had RCA composite video plugs and I don't have a TV. Then since I had no sound I had to make an extra trip to GameStop and get a USB Bluetooth headset for the PS3 because my Logitech wired USB headset wouldn't work, even after changing the settings in the PS3 menu.
I had enough.
Monetary Loss: $370.