I've got a version 1 ps2 that has worked PERFECTLY...until now. When I put a disc in, it starts to spin, and i hear the laser moving, but i keep getting disc read errors. It honestly sounds like the motor is off balance, which could afect how well the laser is able to read the disc. Any ideas on how i can fix this? i tried using a lens cleaner, but that didn't work. Again, I have a feeling it has to do with the motor. Any help would be greatly appreciated.

It's almost never the motor. If it's a v1, I give it a 99% chance that the laser needs to be replaced. Pop a new one in, that will probably solve your problem...