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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2. Had the original 360 a year after launch and it finally died 3 years ago (dog kicked it over whilst i was playing fable 2 and ruined the game and disc drive). Then got the 4gb slim and a hard drive for a it a few months ago