"An error occured with the installed data. Please quit the game and delete..."

[Roto13]

Maybe your PS3's harddrive is just about to get smurfed.

Considering the Tales of Graces install data problem, this would make a lot of sense. I've never had any problem installing a game, and I've never had corrupted install data after the fact.

If I were you, I'd back up any important save data. If your hard drive dies, you can replace it (unlike the 360, PS3 hard drives are not proprietary), but you'll lose everything on it.