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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My first Xbox 360 got a virus and crashed(no seriously it wouldn't even load the dashboard after that) during the days when tons of modders were putting stuff in Halo 3 file shares. My second one... the heat sync broke apparently and wouldn't turn on because it thought it was always overheating.