I just want to make sure if this is exactly what it means. I got this from this website http://support.xbox.com/en-US/xbox-360/troubleshoot/warranty/faq
This got me puzzle a bit
The warranty period for three flashing red lights and the E74 error is three years from the original purchase date of the console. If your console is out of the three-year warranty period, you can still receive console repair service for a fee."
So basically what it saying is if I got my xbox in 2011, 3 years after that will be 2014 so even tho I renew my warranty all the time after 2014 and I have the 3 flashing red lights and the E74 it cant be fixed because it already passed 3 years from the original purchase date...So what is the point to really renew it after 3 years because thats the major problem in xbox of having E74 and and three flashing red lights...Idk if you guys get the way im pointing out here