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One word of advice is check the BC list before you buy some original Xbox games just in case they aren't supported. Other than that I would say if you are tired of waiting theres probably no better time to get into the 360 than right now a lot of good earlier launches have some price cuts now. As far as the whole red ring thing goes I wouldn't worry about it, if something does happen MS will take care of you. My friend's broke down twice sent it both times past warranty, MS repaired it, he got a fan which MS advised not to use for it, ended up bricking it, sent it back, MS repaired it and gave him a new 1 year warranty.