I'm on my second 360, well.. they both work, because I got a guy that fixes them for me, and he explained the whole RROD problem to me, and what exactly causes it.
Its the video card that causes it. If there isn't enough thermal paste on the video card to help keep the video card in place while keeping it safe from extreme heat, it could overheat, and have a slight (rare) disconnect causing the RROD.
I got the RROD on my first 360, 3 times, and he fixed it until it completely broke, then he switched the board for me. My second 360 got the RROD recently, couple weeks ago, he added more thermal paste, and its working fine... for now, and hopefully for the next year of so.
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