First off, not too many 360 owners here.
Second, I have a 360 and it hasn't failed on me yet. It did get a red ring of death temporarily once and I freaked out and unplugged it. Plugged back in and all was well.
Based on that, I am almost positive this console is not gonna last too long without a failure soon and I will be so fuckin pissed when it red rings for good.
Owned it since November '06.
Thanks to Blacksaber for the sig!