[quote name='IAmTheCheapestGamer']Thing is, I didn't like the original Modern Warfare, I don't need a ton of HDD space(don't plan on using a 360 as a media center, it's a GAME console), I doubt I'll ever need a spare controller(unless I take it up a friends' house to play some co-op) and if it RROD's what're the actual chances of getting back the same exact console you send in?[/QUOTE]
Well, even if you are going to use it strictly as a game console, the extra space doesn't go to waste. Between game installs and downloads, I think I have about 55GB left on my 120GB, and that's only because I don't install that many games. I only install games that I know I will play a lot and not give up on after a month or so. If I had the 250GB HDD, I would be far more liberal with my game installs.
As far as a spare controller goes, I've gone through a number of 360 controllers over 2+ years of ownership. The analog sticks do not hold up well, in my opinion. In contrast, the SIXAXIS that came with my PS3, which I've owned longer, is still going strong.
I don't know what Microsoft's policy on limited edition consoles and RRoD is. Yeah, if you send in a regular system, you generally get back someone else's refurb, in order to cut down on turnaround time. They might actually replace the guts of a limited edition console, though.