According to a recent report Microsoft have narrowed the main problem down to the cooling units after adding extra heatsinks to broken down consoles and fixing the problem. Seems the main cause of the dreaded red rings of death was a cooling issue which they have now hopefully resolved so we might see a drop in the amount of people reported to have had this issue. It hasnt been confirmed if Microsoft are installing these new cooling components into all 360s or just ones that are sent in for repair.
Read Whole Article Here:
MS finally solves red lights of death? - CVG.com
EDIT*
Microsoft respond:
MS responds to ring of death solution - CVG.com
Read Whole Article Here:
MS finally solves red lights of death? - CVG.com
EDIT*
Microsoft respond:
MS responds to ring of death solution - CVG.com