@Seraphic -
The way the RRoD warranty is this: You get a 3 year, $0.00 cost-to-you warranty in case of an RRoD occuring.
If you get RRoD, you have 2 options:
1) Request a printable label from Microsoft.com. It's postage paid, but you'll need to use your own box & packing material. The advantage is that you can get your X360 back around ~1 week from it dying if you sent it same day.
2) Request a 'coffin' from MS. They will mail you a postage-paid box with packing materials, and the like. The advantage is you don't need to buy, or use a box of your own, at the cost of taking an extra 3-4 days to repair.
Now, the neat thing with the warranty is that it's based on when your system is registered, or fixed. The advantage with this is that if your system does RRoD, the warranty gets extended an extra 3 years. I bought my 360 at launch (November 22, 2005). My warranty is still good till 2011 for RRoD.
As for the argument(s) about Falcon reliability, it's hard to get a definitive answer, as we never got one from Microsoft, or anyone concerning the initial failure rate of the 1st-gen X360s.
However, NeoGAF has a comprehensive aggregate of RRoD and other issues with Xbox 360's. They currently have tracked over 1,300 unique Xbox 360 failures. As it stands, only 32 of the 1,349 consoles have been Falcons, and this is as of January 16th, 2009. That's very staggering given how long Falcons have been in the wild (about 15 months).
You can view the data here:
http://www.neogaf.com/forum/showpost.php?p=14393794&postcount=9605
Although it's by no means definitive, it's a pretty strong argument that Falcons have greatly reduced the occurrence of RRoD. 0 Jaspers have been failed, as of now on NeoGAF.
Back from the dead, I'm afraid.
