RRoD Inevitable? - Checkerboard Freezing

So, today is the first time I've ever had a real problem with my 360. Yesterday I had my Xbox freeze to a checkerboard pattern as I was shutting it off, and I just shrugged it off and turned off the Xbox manually since I was in the process of doing that anyway. Today, I turned on my Xbox and played about half an hour worth of BioShock, and then the same checkerboard freezing occured. Not thinking anything of it, I restarted my console. The checkerboard pattern appeared right at startup, and I had to restart about 4 times more before I even got to the dashboard. I called the Xbox support line and followed the steps they gave me, even going a step further and reformatting my entire Hard Drive (they ask you to preform a basic fix, I did the fix, reformatted, and then did the fix again). So far, the checkerboard has not reappeared.

Concerned about this error, I Google'd it (the source of all knowledge). I found numerous accounts of people experiencing this problem, and most of them concluded that their Xbox had a visit from the RRoD within two weeks after first experiencing this problem.

What do you guys think, is my Xbox doomed to die a death just short of a year old?

It's funny that of my 3 friends who bought at launch, only 1 has had his console RRoD. I bought my console something like a year after launch, and mine is dying already.

Oh well, I bought the replacement plan from BestBuy so I might as well wait out the RRoD and then exchange for a new Xbox 360 that has the Falcon 65nm CPU, HDMI port, better cooling heatsinks, and a quieter optical disc drive.

I got the checkboard effect just before mine died (see my blog for a pic)blacktorn

My Xbox's pattern matches yours EXACTLY. I guess this means it has very little time left to live... this isn't fun, especially with Halo 3 out and everybody playing it.

I got that anytime i tried to play a game then it would get red rings 2 days after that.

the heatsink over the gpu heats up flexing the board which snaps of the solder on the gpu which detatches it from the board.

IT IS A FAULT THAT WILL IVIETABLY DESTROY ALL 360'S.

i dont think the 65nm chip has been installed in the 360's yet

I've already contacted Best Buy and they'll be fulfilling the Product Replacement Plan I got with my console (Extra $60). They're sending the pre-paid postage and the forms I need to fill out. This is actually a good thing, because instead of having my 360 away for a month to be repaired I get a new 360 entirely with newer parts (and I get to choose which type, since they're giving me a $400 dollar credit back in the form of gift card).