*(August 2008 update)* Microsoft have released the 60GB premium xbox 360, this will replace the 20GB model and is the same price RRP £199 so its a real bargain! This means over the next few months the 20GB model is going to be sold off cheap untill the stock has run out, you can find some really good deals eg.. xbox 360 20GB console 2 official wireless pads and 2 games for £179! You might want to wait though as there is going to be a price cut sometime between now and christmas (September is predicted) across the whole range, Arcade, Premium and the Elite models.

*(UPDATE)* Most 360's fitted with an HDMI output (Late 2007 - 2008 onwards Elite, Premium & Arcade models) have been internally redesigned to try to stop the red light failure happening.

I have owned an Xbox 360 from launch and I am on my third due to them becoming faulty. Here is some information I wish I had known! My advice to anyone purchasing a 360 is to get one manufactured late 2007 onwards and this is for two reasons..

1.early Xbox's were much more prone to crash's and the widely known "red ring of death" which indicated hardware failure and a costly bill to get it repaired if not under warranty. This problem featured on BBC's Watchdog. Recently Microsoft have extended the warranty to three years for any problems relating to the red ring of death which is reasurring.

2.Microsoft have used 3 different dvd/cd drives, this can be determined by the look of the disc tray (do a google search). All models manufactured after jan 2007 were using the third drive which according to internet sources is not just much quieter (the 360 suffers from a very loud combination of the disc drive and fans) but apparently also smoothes out loading times.

Problems aside its excellent, it is truly next generation, the graphics are outstanding, the control pads are a dream and the whole package, wireless pad, xbox live, headset, dvd player and hard drive all combine to give you more than a console has offered before at a very reasonable price. Thinking back to xbox 1 initial £300 price tag and Nintendo N64 were £250, so with inflation and what you get 360's are a bargain at £280.
There is much speculation of a 360 Elite pack coming out (around end of april), the Xbox 360 & pad being black (looks sweet check it out on the internet in a google search) Its hard drive will dwarf the premium's 20GB harddrive at 120GB! also the xbox will have an HDMI output included.
(*UPDATE*) Now released ,The Elite is an excellent update of the 360!
Inline with the release of this is speculation of a price drop so maybe you should wait and see what happens and save a bit of cash, but do get one, trust me they are a quality piece of kit with an ever growing collection of superb games.
I hope this review was helpful to someone, all the best Jake (PJMCCLARNON)

i own an xbox live and a ps3 and i can say that i only use my ps3 for films xbox live makes the 360 the only next gen console worth buying.