I have 2 360s, one over 2 yrs old, another going on 4 yrs and neither have had any problem whatsoever.
I had 2 different 360s take a shit within 2 weeks of each other.
Bought one, on the 3rd or 4th day it died, took it back and exchanged it for another one and 5 or so days later it died... following one lasted maybe a month and so on.....
Guy was very thankful, had that look of just saw a ghost and said wow that would have got me fired.
Just remember, if there's a place you dislike, like gamestop, screwing over the employees to spite the company is like shitting on an American because of what our government does, the bottom feeders never have anything to do with the big wigs, they just want to put in their time to make ends meet.
He was very thankful to say the least, when I hinted at COD2 he made it clear if I wanted it he would make it happen, I told him I didn't want him to buy me anything however if he could get a good discount on it that wouldn't dig into his own pockets I'd entertain that idea, his discount wasn't really all that great. I told him don't worry about it, bought some PS3 games and told him I'd bring it back over the weekend.
Only thing that sucks is for some reason they need the full package back even the controller in order to send it back, they for can't just swap boxes and content.
ohwell, packing it all back up is easy enough.