I'm interested in this also. My original first generation XBox fried(literally, as in smoke was coming out of the thing and I can't even get the game out of the disk drive) on me last night after buying a new game after owning one for 5 years (I've had this one for 3 years, actually. I had to replace the original one, but it was covered by the replacement plan that I bought when I purchased the first one).
Now, I'm stuck with 12-15 Xbox games that I can't play and you can't buy a new first generation XBox any longer. Just refurbished, used or XBox 360s. I'd rather just upgrade to the 360, but it's not yet compatible with all my games (according to the list on the official site, about 1/3 of my games are compatible and NONE of my sports games,

) I don't care to drop $100 on a used/refurb that I won't know will last a month or 3 years because it won't carry a warranty at all.
But since this is the 2nd XBox that I'm having to replace, should I worry about moving to a 360? I've been a huge XBox supporter, but this has me worried. I still have my original NES, even my original Atari 2600 FFS, and they still work like a champ (sure, the Atari joystick sucks now and you have to blow into the NES cartridges until you turn blue, but the consoles work great!). No problems with my SNES, Genesis, or N64 either. Not one problem out of a game console until Microsoft's XBox, which coincidentally is the first console I've owned that uses DVD. (Notice I've never owned a PSX or PS2)
Are the old days of well-made electronics a thing of the past? Am I going to have to worry about replacing my XBox 360, PS3, Wii (which ever I choose to replace with) every few years due to problems? I'm just a bit concerned, with a baby due in 2 months and my stress reliever is now (again, literally) fried!
Sorry, I had to share my pain.
- Slacker