Literally every one of you that have had any problems with your current gen consoles should've sent it in immediately. I would NOT sit on the warranty and I would not ignore the issue - What happens if you try to resell down the road and you have to include the fact that it can't read discs? Beyond that we need to encourage hardware manufacturers to keep defects to a limit. RRoD and YLoD were major issues last gen. What kind of message does that send as a consumer when you'd rather purchase a second version as opposed to having the first one fixed at their expense?

This is his an other one of the many reasons why discs sucks and are an obsolete technology....using discs in the 2010s is like using tapes in the 2000s....

I don't even know if my disc drive works, I've never used it and probably never will...

This happened to my Xbox I'm assuming you used it for controling your TV or had it on frequently the Xbox has a shit load of vents with half of the top console being one of them. My disc drive eventually stopped reading all together, I was pissed but I noticed I been using it a lot and with all the vents it had to be dusty in there! What you need to do is get a can of air use the tube with it slide it in the disc drive opening and give it a good spray. After this it reads my disc's the first time I put them in!