I got my 360 elite in 2007 and it only failed the day Mass Effect 2 came out (Crashed during gameplay) and due to the error being an E74 error I had it fixed for free and no problems since.
So in all I have had the 1st 360 I ever owned.
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just one my 360 pro was low on memory and the disc drive broke it still can play games digitally and i got a new 250 GB 360 slim and it works great!