Red Ring of Death is sooooo 2007. The "Red Light of Death" is the new Xbox 360-breaking craze for the oh-eight ... if a Consumerist post is the front end of a trend, that is.
Unlike the distinctive three red lights of the RRoD, the "E74" error is characterized by a blinking red light in the lower-right corner of the ring and graphical problems on the television. The problem has been known for a while but is currently not covered by Microsoft's extended three-year Xbox 360 warranty, which only applies to traditional Red Ring problems -- E74 sufferers have to shell out the money to ship their system in for repairs.
Of course, we don't know just how widespread this E74 problem is, so it's not necessarily a cause for alarm just yet. Still, we have to agree with the Consumerist that the warranty extension should apply to all sorts of hardware malfunctions, not just the common ones that get a lot of media attention. How about it, Microsoft?