Pieman wrote...
...I myself have an olden gen 360 and never got the red ring ...
Wow respect, how did you managed that.
I myself have only bad experience with the old generation.
The first 360 I recieved was already broken form the start, than I got a new one which also got the red ring of death after couple of month. Thats why I sold the third one which broke a few days later after I sold it.
I also know some guys who already have their seventh old gen 360.
Well well that was bad luck I guess.
Now after 1 year of with no 360 I decided to buy one again because there was some specialoffer at this time. My current 360 is runnig well no problems at all, only a few time it freezed (hope that was only an error in the progamcode of the game). Well the first signs when a 360 is going to get the red ring is when games often freeze or there are some graphicfragments on the screen over and over agian (my second 360 had this problem in Oblivion,the icons of serveral spells were just some pinks squares). To prevent the red ring take care your 360 has a good airflow (no objekts behind the fans)
But like ShadowZero already said new gen 360 tends to break less often then the old on, basically because they have new chips from Infinion (think it was Infinion) and advanced heatmanagment.