XBox360

My roommate bought an XBox360 a year and a half ago and after a few months a red light came on instead of green.  He took it back to Best Buy where he had a 2 year warranty... the guy referred to it as "The Red Ring of Death" and said it was broken.  He got another for free and a year later the same problem just came up.  (Still a few months left on the warranty)  My question is what is the deal with Microsoft.  Why don't they make a good working product.  PS2 had a lot of problems as well.  Has anyone else had problems with this system? 

The graphics and games are great... but this is just annoying.

thanks lipps

I hear about the red ring of death all the time, but I've had a 360 for over 2 years and havent had an issue. 

Maybe its because I don't play it as often, but this has been a problem with the 360 since its inception.