hey here's a quick tip that might work.

i just had the red ring of death a few days ago for no reason. i keep my 360 very steady and don't move it around too often.

so i know i couldn't have broken it. i've found a way around this problem by holding my 360 in my hands without the disc inside or wires connected and shoke it very hard up and down. i did that a few times and the rrod seems to happen because of loose part or bad soldering(what i've read from researching around the web). so why won't you try shaking your 360 really hard but don't let go of it =). I don't know if this will fix the problem but it allows you to play again.

my results(i only shook it about three times) so far is random freezes or rrod. if so i shake it again. otherwise the rrod disappeared and works ok so far.

just a tip so try it out if you like.