just yesterday December 26, 2008 my brother 4th xbox 360 broke, RROD. and its the 2nd elite that couldn't take his gaming habits even though MS bragged it was more reliable. but anyways back on topic.
at Best Buy the warranty is not a repair plan, is a replacement plan. which means you don't have to wait 2-6 weeks for a new xbox. you just have to bring the broken one in and they give you a fresh one off the shelf. this plan is avaliable to all next gen consoles. the most you wait is 30 minutes compare to 2-6 weeks to get a new xbox, sounds like a bargain doesn't it.
and if you feel insecure, you always have the option of extending your warranty once you bring in a broken one.
NOTE-im not trying to offend with this thread, this thread is meant to help ppl. i didn't take a pic of his RROD elite and posted it for proof because that isn't really that nice to do isn't it.