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As been said a number of times on this forum. The new Xbox 360's are reliable than the past ones. The new ones have a more reliable motherboard that can get rid of the excessive heat and cooler processors that are 65nm each for the GPU and CPU.

Getting a 360 now is excellent but not in the past. I have a Xbox 360 that is Falcon. It has been running for about 1.5 years now without any problems.

Good choice again for a 360 now. If you don't mind me suggesting, get Halo 3 as your first purchase so I can own you in that game.