This past January my 360 started making fan noises so I called MS support about it and requested a repair before my 1yr warranty expired (I bought it March of 2007). They said they would send out a return box, but that never actually arrived. The fan noise eventually cleared up so I kept playing. It did keep moving air out the back and it was working fine since then, but last week the thing finally RRoD'ed (I knew it would happen, but on the day before GTA4 was released?! GAH!). It was intermittent at first, sometimes I would get to the DashBoard and be able to load a game, and actually play for awhile, but now it's constant and starts immediately with the RRoD. Luckily MS actually sent out the return box this time, and it's currently en route back to them for repair/replacement. I hope I get a Falcon in return, but I seriously doubt I'm that lucky.
So, count me amongst the masses of RRoD victims.