Exactly as other people say, if it last 3 years then you have little to complain about. Most electronic stuff has issues after 3 years, or you're a very lucky person if it doesn't have issues. Yes there are still NES consoles, working, around to this day. However you don't exactly see them everywhere, do you? Only the absolutely best treated, best loved, most luckily manufactured consoles last longer than say, 10 years, on the whole.
One thing to note, is that the 360 3 year warrantee, does NOT cover any other break-down issues, than 3-red-ring errors. If your Hard Drive, or DVD Drive breaks, then it's subject to the standard 3 month factory-warrantee, and 12 month store warrantee, service. The 3 red-ring-errors are the most common, that's why MS are supporting customers who at some point, with first-manufactured 360s from 2005/6, get. Although on the upside, if you do get a RRoD error, on return to MS they give you entirely new, and improved, motherboard. It's not just a tweak any more. That's a recent development, to ensure less 360s need to be returned.
I've had my August 2006 manufactured 360 now for a good 8 months. It hasn't so much as squeaked in error. So i'm going to assume i've picked up a good one :)
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