The red ring of DEATH
Well it finally happened, and I am both mortified and a little bit surprised. Even though I had read countless reports across the internet and even heard it be reported on television’s Watchdog programme – I still hoped that it wouldn’t happen to me. More fool me, I think now. Yes my XBOX 360 has suffered the infamous 3 Red Lights, which basically means your console is f****d. No more Assassin’s Creed for me, or Half Life 2 – at least not until closer to Christmas. 
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On a plus side, it gives me ample chance to both return my attention to this website, and also get into Metroid Prime 3, which it has to be said was formerly playing second fiddle to ‘the creed.
Hey, yea good news im getting the 360 ! and ive been over youtube and had a look at the 360 and the red lights and what causes it.
Basically its a hardware failure and yep like you said when you see it your f****d.
You will still have a 3 year warrenty hopefully? as long as you havent used an intercooler but its still a pain i bet!
So what ive copied and pasted a bit of info from a website i found.
not to worry, theres a simple fix. take four pieces of an eraser and some double sided tape, then it runs smoother than before. if you have any other problems, feel free to contact me at zephyrthedragon@hotmail.com or visit my DA profile at http://www.mephilesthedark-44.deviantart.com ( a common mistake made is mistaking four red lights as the ring of death, but it meens the audio and vidio cords are not plugged in right )
Xbox 360 is no good at all go for playstation 3 its much better and worth the money to buy iy?
Yea Go Ps3!!!