just been reading this may be of use to some peoplel aparantly the 3 light error message has gotten rather common with 360's sooo microsfot ar extending the warranty to 3 years to cover the 3 light errors also sais id you have paid to get this fixed you may be able to get yoru money back.
http://news.sky.com/skynews/article/0,,30400-1273967,00.html
yay for microsoft
http://news.sky.com/skynews/article/0,,30400-1273967,00.html
yay for microsoft