Once upon a time the red ring of death plagued the majority of Xbox 360 owners. It got so bad Microsoft gave extended warranties for up to three years on any console that suffered from the RRoD which covered repair and shipping costs at Microsoft’s expense. Shortly afterwards a new hardware failure message commonly known as E74 started popping up on many Xbox 360 consoles. The problem has gotten so rampant that Microsoft has once again addressed this issue by including it with the RRoD warranty.
If anyone has gotten the E74 error in the three years before or after today Microsoft will repair it and cover shipping costs free of charge. If you’ve paid Microsoft in the past for repairing an E74 damaged console it will reimburse you accordingly.