Microsoft gave 360 owners and owners-to-be an early present this year on December 22nd when they announced that they were extending the 90 day warranty on all units to a full year. Better yet, the change is retroactive – even if you already own a 360 your warranty was extended to a year past your purchase date.
Already paid Microsoft to fix your then-out-of-warranty-now-in-warranty 360? The check's in the mail. Literally. Microsoft will be mailing out refunds to eligible customers without requiring you to lift a finger. It's not often that Microsoft sends you money.