I don't have the right tools to test anything so I had to drop it at a console repair shop unfortunately
I really think that the problem is just that the chip isn't soldered right, but my friend is out of town so he can't do it for me again.
I don't really trust console repair shops a lot (because most would just dismiss it as "its a motherboard problem" without actually tackling the issue), but I gave it a go - if they indeed to this, I'll just wait for my friend to come back so I can ask him to run some tests for me. Either that or I'll just sell it for repair.