All reports are that the the RROD issue has been improved significantly, but not fixed. The fix is decrease the amount of heat that comes from the GPU. So anyone squeemish should just wait for jasper.
There is enough annecdotal evidence like that given from Neogaf, and Microsofts 1 Billion $ commitment, so that most people can just get the system if they like the games.
But if you are an obsessive hoarder of gamestuff and still bust out your Nintendo once in a while and picture playing Halo 3 until 2020, then nothing I have seen would make me jump on board until I see a slimline 360.
As for Squilliam's point about electrical vs mechanical failures he was only partly right. For RRODs heat, a mechanical effect, caused warping of the motherboard, a mechanical issue. If it had shorted, or a component was defective etc that is an electrical issue. We don't know yet if the falcons prevent warping all together or just delay it from 6 months to 12months, or what ever.
But to the original op, take that thing off. There either do very little as a previous poster mentioned or sometimes they just make things worse. Just leave your 360 and the power supply where they can get decent ventilation, and clean the vent sometimes.
Final* Word on Game Delays:
The game will not be any better or include more content then planned. Any commnets that say so are just PR hogwash to make you feel better for having to wait.
Delays are due to lack of proper resources, skill, or adequate planning by the developer.
Do be thankful that they have enough respect for you to delay the game and maintain its intended level of quality.
*naznatips is exempt
