My Xbox 360 has got the 3 red rings for the second time and this is a video on how i fixed it. YouTube Video
I previously replaced all the clips that hold the 2 heat sinks onto the motherboard with screws and washers (the clips can pop off), replaced the thermal compound and ran the overheat procedure (shown in the video) to fix the xbox.
I believe the xbox360 had the 3 red rings a second time is that i used a light more watery thermal compound and it slowly leaked out from under the heat sink. If the system red rings a third time i am going to replace the thermal compound with something thicker (silver paste).
Edited by Berbs on 02/04/2010 18:07 CST
Have you tried turning it on and off?
Nice work man. I own the X-Box 360 black elite console and only played it once or twice. If I ever run into this type of issue, I doubt I'll be as brave as you on opening it up...lol.