Yesterday my Xbox 360 Started to flash red around the power button. I tried to check power supply and everything, finally I looked on the internet and found out that in fact my system just plain failed due to a manufacturer error. My system is 3 years old and now out of warranty... the thing that really angers me is that how can a company make such a crappy product that is self-destructs just after your warranty is up? They are making huge money on having people repurchase systems.
I either have to pay over $100 for a repair, purchase a shoddy "guide" online to fix it in under 1 hour... yeah right, or purchase an entirely new system. My response is to sell all my 360 games and go straight PS3... since I've had that longer and it's working great still.
I just had to voice my disappointment as I've never been so disappointed in a product so much in my life.