So, for the record, we're saying here that PNY do NOT honour their warranties - basically, PNY have NO FAITH in their products and do not give a crap if they break. Nice. Glad I've never had any of their kit - nor will I. If this happened to me (In the UK) I'd be getting legal advice right now. In the EU "Lifetime" warranty means 10 years - strange but true - so I'd expect as much.
They only started doing it to compete with BFG who did offer a real,full, lifetime warranty.
I guess they realised they had no choice. Any way, it was never a real lifetime warranty. They were interviewed (it's on Youtube somewhere) and they said that lifetime meant all the time that card was current tech and still in production (so basically the lifetime of Fermi whilst they still make the 570).
Their products aren't even their products. They're Mickey Mouse pony poo and all they do is stick a sticker on a Nvidia board. They don't make custom PCBs or anything like that and the furthest they've ever gone was to stick a single rad water cooler on their cards.
MSI, Asus, Gigabyte... All buy just the GPU cores from Nvidia then design their own custom coolers and PCBs.
There are few companies I would completely avoid but PNY are one, based on their dishonest warranty for a start.
As for this 570? the clue is in the facts we have. It'll fold (indicating it's not the core) but won't do much else (indicating it's the vram as IIRC folding doesn't touch it).
There's a chance the card has received static damage and you've popped one of the memory chips. Easily done without an ESD wrist strap.
If that's the case (and I strongly suspect it is) baking it will achieve nothing.