I got the elite the day it came out. It redringed after a month. Got it replaced and my second one crapped out in early march, the disc drive no longer spins after 3 1/2 years.
Im in the same boat, but im gonna take this one apart and see if I can fix it. Wish I could upgrade all of the chip sets, PC gaming is so much better, but all of my friends play 360 games...damn my sheeply mentality...