First Xbox Red Ringed MONTHS after I got it, and I saw it coming because the conditions I had it in were brutal. Running 24 seven in an unairconditioned room in the CORNER of the room pushed to the back wall near loads of insulating debris over the course of the summer. I'd like to remind that I play it ALL the time. It finally crapped out a year later but by then the harddrive was all used up so my brother just bought an Elite.
There's something to be said about the consistancy of Microsoft's manufacturing processes...