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I haven't ever seen it in person, but 2 or 3 of the 12 guys I go to an Xbox lan party with say they have experienced it. My console is going on 2 years old and I haven't seen it yet.

I'm sure that some of the bitter posters in this forum will claim that only me and some guy in Nebraska haven't experienced it yet.

The funny this is, I'm not really concerned about it. I have good active ventilation for my 360 and I have a 3-year warranty that would cover it if the dreaded RROD ever did visit.