I own a 120GB original 360 Elite, bought it brand new and never had trouble with it til lately when things started to go a bit pear shaped. Firstly it was taking gradually longer to load on boot, I was getting errors stopping me from downloading updates and my profile kept corrupting/deleting itself. Finally a few days ago my suspicions were confirmed and after waiting 10 minutes (yes, 10 minutes) for the Xbox 360 startup screen to go, nothing on my hard drive was showing and in Storage settings it was showing as 'Unformatted'.
After realising that I'd basically lost over 6 years of save games and had to format I went for the format option, waited for it to end and absolutely nothing happened, it just returned to the screen saying I needed to format my hard drive.
Without buying a new hard drive (original 360 hard drives seem really hard to find) or paying a fortune to get it fixed by Microsoft, is there anything else I can do? I'm currently using a USB drive just to access Netflix, but I need a long term solution that won't use up and of the USB slots on my console (I have wired controllers)