Apparently, some less respectable forums have a crazy stories going on about a Towel Trick. Basically, people claim that by wrapping towels around your X360, covering all the fans, and leaving it on (making it overheat), it may solve your problem.
http://thexboxdomain.net/2007/01/15/the-towel-trick-fixes-360s/
http://thexboxdomain.net/2007/01/15/the-towel-trick-fixes-360s/