My 360 is not even 6 months old and I got the Red Ring Of Death. I am covered for a new system but I'll lose all my saves (uhhgg...Oblivion) and everything. I'm not paying even more for a memory card to transfer the data and even then my XBLA games will be a pain with me having to be logged into live for even my wife to play Zuma. I am really thinking about selling my new 360 when it comes along with all the games (about 12 and 2 guitar hero guitars) and just getting a PS3. Am I going to have to pay $130 every 6 bucks just to own a working 360? This is so ridiculous.
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