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it's really easy decision about what to do next,,,send it to MS to get it fixed,,If the wait and whole experience does not matter to you keep playing it untill the 3 years are over then sell it .

If the experience of sending it back /waiting and dealing with MS is not what you like to go throgh one more time,get it fixed and when it come back sell it on ebay or craigslist and get wii or PS3.

and hey we are both greek warriors (spartan) lol ,so listen to your clan mate ;)