Had my xbox 2 years. After just a few months I started having problems with it (shoulda sent it back then but I'm a lazy so and so). At first, after i put a game in, it would tell me to insert the game into an xbox 360 (identity crisis or what?). This started happening more and more until eventually I had to sit for half an hour, inserting and ejecting the game fifty times before it would load. After a particularly long session it finally happened. I was kinda glad it did though because at least I could get it repaired for free as the warranty extends to 3 years with the RROD. Warning to everyone: If your console ever has the above problem, get it checked out. It'll only get worse!
Anyway, back to topic. I have a friend who repaired his RROD himself with a kit he bought from E-bay consisting of a tool to open the unit and some plastic parts. Now it works fine. If it does happen, chances are you can fix it yourself and you've got nothing to lose by trying because the warranty is no good by now anyway. Of course if that doesn't work, just be be glad of the recent price drop. You can pick up an arcade model for next to nothing now as you've already got a hard drive etc.
Good luck anyway, hope it never happens! :)
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