If you've been getting an E74 error message on your Xbox 360 then you can breathe a sigh of relief.
Major Nelson has posted on his blog that the E74 error message is now covered under the red-ring three year warranty.
In his post, Major Nelson acknowledges that the E74 message "can indicate the general hardware failure that is associated with three flashing red lights error on the console." The extension of the warranty to cover this issue applies to new consoles for the original retail purchaser, purchased before or after this change. He promises that customers who have already paid for an E74-related repair will be reimbursed.
To read more about the warranty extension, you can check out the
additional information on the support site.