I didn't do it but I don't know if I should! It seems pretty *** up even if they give you a new 360.
Just to show my 360 is the old "arcade" if it bugs even more...
Well your console will be useless anyway, without the update. So you might as well give it a go.
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I just updated my new console and my old console with no problems whatsoever. Unless your console has been modded, I wouldn't worry about it at all.
my console was not modded and i got red ring of death...