Well, I finally jumped the gun and purchased an Xbox 360. I had Dell credit, so decided to order it through them.
It arrived a few weeks ago, just before I had a few days off work. Perfect timing I figured! Well, I hook it all up, boot up, and damnit I have a red light and an error (Error 67 to be exact). Did some research and found that it was the hard drive. I removed the drive, and sure enough the 360 booted right into the interface. This is the point that I started feeling that I made a big mistake ordering this console. I hear all of these horror stories of "red rings of death" all over the net and figure that it just wouldn;t happen to me. I was wrong.
Well, I had the HD replaced. Popped it on, and all seemed to work fine...until I played FEAR. I play for a few minutes, the console freezes. I play again, same deal. Now I am at my wits end, just about ready to return the 360 and forget all of this ever took place. But, I decided to try one more thing.
The HD that I replaced the bad one with had pre-installed a bunch of garbage from Microsoft. Trailers, music, demos, and some other nonsense. I formatted the HD and tried again. Lo and behold, no freezing. I have now been running the system every day for a week, some days all day long (12+ hours) and no freezing. I ended up discovering that sometimes the cache memory needs to be cleared on the HD (from M$ support site) and if not this may cause the system to freeze.
Well, I am sure glad I stuck in there and did not return it. Yes, it did suck to open a brand new unit and have a hardware failure right off the bat, but at least I was able to overcome that issue easily. Now I just hope I never have another issue with the unit.
Even tho all of this had happened, I can honestly say that this is the BEST console I have ever owned. The games are amazing (I am absolutely hooked to Gears of War), the online support fantastic, and sharing my 70+ GB MP3 collection with the unit kicks ass. I also own a PS3, but I think (as of right now at least) the 360 will be consuming most of my game play time.
Just figured I'd share the story with you all. I wonder how many others have had issues like this right out of the box tho?