Yeah, red ring is ghey. I'm getting a 2nd xbox and am planning to crack it open and fix the problems so I don't get the red ring. The primary problem is their thermal paste, so I'll just gunk on some Arctic Silver, and toss in some new fans or something.
All the newer 360s come with updated motherboards, with HDMI output, and more heatsinks. People are saying they've fixed the hardware problems with this, but us early adopters who have these older 360s still have to suffer :(
Least they extended the warranty to 3 years. I was real happy with that.
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