Gutted. I got it recently. Such a buzzkill, especially when you've just blazed and you're thinking "Fuck some GTA4 would be awesome right now!" *fires up 360* "FUUUUUUUU-" Is it out of warranty? I had to buy a new one as mine was a launch console.
If it's out of warranty just order a repair kit online. Thats what i did literally 3 days ago and mine's working again.
i got my 3 red lights fixed for free and i was way out of warranty. this may or may not work for you...but I called. When i spoke to the woman on the phone, I told her that my xbox was not working. When she asked what the problem was I DID NOT MENTION THE THREE RED LIGHTS. I only said that when i plugged my power cord in, that the light on my power supply was RED. she specifically asked whether it was orange or red..because an orange light indicates a problem with the power supply rather than the xbox itself. So they told me to send it in. that is what i did. 3 or 4 WEEKS (sorry) later i got my xbox back good as new. free of charge except for the shipping on my end. I am always conjuring ways to get shit fixed for free. fuck the man.
I've had this happen twice to me now. First time it happened it was still under warranty. Second time it was about a week past, and the first guy I talked to wouldn't pass it through. Called again the next day, asked to speak to their Supervisor (this always works, haha) and got a my xbox fixed the following week.