Yeah it sure sucks when it finally happens, only because Microsoft are pretty slow at fixing it when you send it in, I've had mine replaced twice due to the RROD.
XBL: Darksleem PSN: Teh_Sleem Feel free to add me on either.
not to mention they put the same flawed mobo in it. i have a friends elite that rrod'ed and they put the old flawed standard mobo in it.... RRoD'ed twice after that....
It's only a year old though, I play the sh*t out of it too..
It's quiet, (Mainly because I install my games instead of disc reading them) and has never over heated or anything.