Some issues... should I buy a new Xbox 360?

I have some issues with my first generation Xbox 360 (20 GB). In many games, after playing for some time, I get disc read errors in the middle of my game. When I reboot it works fine (at least for another while). I've seen the errors in Mass Effect, Lego Indiana Jones, Gears of War and Lost Odyssey. All my discs are very clean and I already tried a lens cleaning DVD.

Also, I started playing GTAIV recently. I just patched it up through xbox live. I played about two hours and the game froze 2 times. Does GTAIV still has freezing issues or is it my Xbox?

Does everyone have occasional disc read errors or is my xbox faulty?

I rarely get freezes, though it will happen to everyone from time to time. If you have already tried cleaning the drive and your CD ain't scratched I would consider getting a newer one. Unfortunately Xboxs are not the most durable consoles. If you have a 1st gener it sounds like you got a lot out of it.

You COULD turn it in for repairs but it's expensive and if you pay double the repair cost you can have a new Jasper-chipped Box that should last longer than your first.