360 E74 error: To repair or not?

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Got home this eve to be greeted by my housemate with the news that my 360 has croaked with a E74 (1422) error :(

It's a early Falcon chipset model (with HDMI onboard) manufactured 05/10/2007. From looking around, it seems like the average repair cost is ~£50.

Is it worth getting it repaired? There is the risk I guess of it failing again relatively soon...

I have seen a brand new 250Gb Xbox 360 S for £166.66 via a well known online/high street retailer. I could get the dead one repaired and then sell it on. Do the high street stores that once could sell it to (the ''big two' plus cash converters) require you to tell them if you've had it repaired when trading it?

Just looking to weigh up all the options here...
 
Give it a go yourself for few quid, you could get a week or six months from it, then use the 50 quid towards a new one ;)
 
Thing is, I'm not that confident about opening it up and doing anything; especially some of the more 'specialised' fixes involving baking the board in the oven :-/
 
have you tried registering it on xbox site I know it has a date of 2007 but I have done this for a few units which had old dates and it showed on the site it was still covered.

if you do plan to get it repaired by yourself or someone else you might want to find out the second error code first so you don't waste your time or money.

Places wont take it if it's been repaired by someone they tend to check the tamper sticker and you would be lucky to get £50 from a store for it anyway also it's fraud not letting them know.

http://www.llamma.com/xbox360/repair/Xbox-360-error-codes.htm

I have seen deals about for 360 250 model about £150-£160 or pick up a 4gb online there has been deals for under £120
 
have you tried registering it on xbox site I know it has a date of 2007 but I have done this for a few units which had old dates and it showed on the site it was still covered.
This, I think it's covered for 5 years so you should be alright. Unless it's the american format, then it runs out tomorrow :)
 
This, I think it's covered for 5 years so you should be alright. Unless it's the american format, then it runs out tomorrow :)

Do you have a source for that? I've been on the MS Xbox site and it only mentions the 3yr warranty :(
 
Managed to get it fixed for £20 :D A friend of a colleague at work apparently does over twenty a week!
 
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