Microsoft Announced that it would extend the 360's 90 day North American warranty to be a full year. This is a retro active change so everyone who has purchased a 360 prior to this also gets the extension! For those of you had to all ready shell out some cash to get yours repaired you will get automatic reimbursement. 

This is a smart move by Microsoft. Not only does it make current owner happy, but removes some doubts for those planning to buy it in this christmas season. Its good to see a company taking responsibility for its hardware