Xbox Red Ring of Death

[PeterPanPan]

I've been enjoying some console gaming whilst waiting for the CoD patch but last night my Xbox appears to have died.

Mid game, the screen went yellow with vertical pinstripes and now I get 3 flashing red lights on the start button and a blank screen - Xbox powers up but I get a totally blank screen.

A quick Google search reveals this is a common and serious problem. There appear to be ways to fix this if you know what you are doing. One shop has quoted me £60 (about US$100) to fix it. One shop said just throw it away and buy a new one as any fix will likely last just 6 months.

So, my question is, what would you do? I don't have a lot of spare cash (who does?) so need to decide carefully. Looks like I could pick up a new Xbox 360 4GB Arcade Console for £130.

Thanks for your thoughts ...

PPP