Getting a new power supply thingy for the Xbox 360 didn't help, it's a hardware problem in the console it seems.
And the Xbox online support for getting a repair request has an error in it... Yay, Micro&%¤*!
3 Red rings.. Still have 1 year on the warranty. I've had it for a bit over 2 years, not really impressive reliability.
My PS2 is at least 5 years old and still runs perfectly.
Heck, my Nintendo 64 is over 10 years old and it still works.