Microsoft does the right thing for once

[Monster]

They extended 360 warranty coverage to three years on any system affected by the Red Ring of Death™. I'm impressed, I never thought they would have done this. I just figured they'd keep denying the problem forever.

http://www.snackbar-games.com/news/micr ... -2679.html

[Wynn]

I know one person who was affected by it, and he's happy with this too.

The official announcement is here:
http://www.xbox.com/en-US/support/systemuse/xbox360/resources/warrantyupdate.htm

Also here's an open letter from Peter Moore, and some additional infos.
http://www.xbox.com/en-US/support/petermooreletter.htm