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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I had a 360 Elite and it broke like almost 2 years after I got it. I have had this other 360 for about 4 years now though. Still kind of bummed it broke in the first place. Oh yeah my second 360 broke, but I got it replaced for free.