[quote name='MSI Magus']The system has a 3 year warranty so even if it Red Rings a million times whats it matter if they replace it? My only worry is if it keeps happening and the next MS system sucks or isnt BC.[/quote]
My problem was not only the red ring but random disc read errors on certain games. For example everything would play fine except GTA IV. I just had enough of the buggy nonsense with the system.
I traded in (and sold) alot of my 360 collection and replaced the games with the PS3 counterparts.
The 3 year warranty is great and all, but turnaround time is still a bit ridiculous. I believe mine took 3-4 weeks.
Having both systems I really think the PS3 is the better overall system (blu-ray, stability, free online, upgradeable hard drive, etc.)