There are two pieces to this, an 8BitJoystick.com (??) interview and then a later follow-up on the Seattle PI blog. The whole thing is fascinating, if depressing, confirming everything I always feared about Microsoft's ineptitude on the Xbox 360:
Since it's launch in Fall of 2005 Xbox 360 systems all over the world have had major hardware failure problems resulting in millions of costumers having to mail their Xbox back to Microsoft. No one really knows what has been causing these problems since the official lines never divulged the specific problems or rates of failure. All a person has to do is to press the power button on their Xbox 360 and there is a chance that it will just up and fail to boot up and shine the "Red Rings of Death". Microsoft decided to extend the warrantee for the Xbox 360 but the cloud of fear and uncertainly still hang around the game system.
This past week I met and interviewed an individual who has worked on the Xbox 360 project for many years and they had some things that they wanted to get out into the public.
A few interesting assertions from this interview: