It happened to me CHRISTMAS FUCKING DAY mine gets the red ring so that following sunday I have to go 50 miles out of town to replace it and I do and when I turn it on it wouldn't read any disk so i was like fuck I called the local gamestop and they said they just got some 360's so I got to swap it out again and when i get home and turn it on it has a over heating problem so i was seriously fucked I go back get a refund for like $150 so i pay a 50 extra bucks and get a new one thats been working fine, but man that was a hellish day.