Unlike the distinctive three red lights of the RRoD, the "E74" error is characterized by a blinking red light in the lower-right corner of the ring and graphical problems on the television. The problem has been known for a while but is currently not covered by Microsoft's extended three-year Xbox 360 warranty, which only applies to traditional Red Ring problems -- E74 sufferers have to shell out the money to ship their system in for repairs.
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