I got my 360 elite in 2007 and it only failed the day Mass Effect 2 came out (Crashed during gameplay) and due to the error being an E74 error I had it fixed for free and no problems since.
So in all I have had the 1st 360 I ever owned.
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just one. My 2007 Halo 3 edition died in 1 year. I think the video card or whatever got fried .... I played a lot of Halo 3 though so it got used quite a bit for that year lol Luckily I had a warranty on it and the 360 Elites were on sale so I got a full refund at best buy and was able to get the new Jasper chip elite for $100 less which was cool. That one is still going strong.