3 red rings - false alarm?

so i've had my 360 since launch now with no real noticeable problems so far, besides a DRE error now and then whenever i buy a new game....

i just booted up the bigs demo and it freezes right after i hit the ball...so i turn off the console and turn it on again...then i load the same demo, and it freezed again at the same time...after that, i turn off the console, then turn it on...nothing happens, and i see the three red rings of death...i turn it off and on again...3 red rings...

so i turn off the console, unplug everything...wait5 minutes, then plug everything back....everything works fine now...

so is it possible that the red rings were just a false alarm, or should i trade the console in anyway? i'd like to know the sooner the better so if i have to trade it in, i can hopefully get it back when the really good games start coming out in november....

thanks for any help

this happened to me i really thing it has to do with either

1) Loose connections with the wires or

2) You must have had a split power cut when playing on your xbox 360

That's what happened to me at first, then it locked up more and more frequently untill finally it wouldn't turn on at all. It should take a little less than a month to send it off and get it replaced, so you might want to start the process now.

1-800-4MY-XBOX