What is graveyard.sav? What does this have to do with me?
When you get hit by the glitch that turns your save into graveyard.sav, upon entering FFYL and then subsequently dying for whatever reason, you will never respawn. You die and go into a free roam camera. If you try to load another character, dashboard, restart your xbox, etc, your save data is completely gone and there is no hope of recovering it at that point, as it is renamed graveyard.sav and is missing the majority of the data it once had.
What?! How did I get this?
The glitch originated with the modding community and may or may not have been accidental. It spread from there, and it passes from the infected player to all other players in the game with said infected player. At this point, it's a terrible chain, and chances are it passed to you through some randoms.