I got the dreaded red rings for the third time in four years. First was covered by warranty, second wasn't covered and now I'm at my third time and it isn't covered by warranty (repair only has a 90 day warranty). I called xbox live support and they said....
"Well, it is a great product, you should just buy a new one if you don't want to get it repaired again".
If I buy a new console it will be the other kind. Anyone have any other options?