Impixi, Microsoft will repair your box for free; all warrantys regarding RRoD has been extended for 3 years:
http://www.xbox.com/en-GB/support/systemuse/xbox360/resources/warrantyfaq.htm
Darkheart
http://www.xbox.com/en-GB/support/systemuse/xbox360/resources/warrantyfaq.htm
Darkheart