One red light, here. I've had my 360 for about a year and a half. I do believe that Microsoft has made consoles manufactured after 2007 flash one red light rather than 3 in order to bypass their 3 year warranty. I will do my best never to purchase another Microsoft product in my life.
Joystiq survey: Xbox 360 E74 errors on the rise since NXE [update]
Mar 21st 2009 2:12PM (Joystiq)