The dreaded Red Ting of Death. The Xbox 360 users' worst scenario. It is speculated many of the faults come from Microsoft building the console using lead-free solder to be more enviornmentally friendly. But a side effect of this is repeated heating and cooling or transit shock can more easily crack soldering points. Ergo, console failure.

If your console is out of the standard 1 year warranty and flashes 3 red lights and/or displays the failure code E74 on your screen then you are covered for 3 years.

Log onto xbox.com and register your gamertag that you gave set up with your console. Use the support link and register your console serial number with your account. You can use those links for into and sort out a repair.

Note: DO NOT SEND YOUR HD WITH IT AND IF YOU HAVE A CUSTOM FACEPLATE REMOVE IT. They will probably just send you a new console.

For those so inclined I found a helpfull link that more details the RRoD and how you can see exactly what failed as well as other troubleshooting tips. That link is http://www.rrod-fix.com/errorcodes.html.