Just when you thought it couldn't get any worse, Microsoft stands up and takes some responsibility for what appears to be an epidemic amongst Xbox 360 owners: the dreaded Red Ring of Death! Announced today in both press release and open letter formats, Microsoft has pledged to extend the warranties to three years from date of purchase for those who suffer from RROD, and will reimburse those who already paid to have it fixed. Seeing as how the 360 hasn't even been out for two years, that means everyone is covered. This is after they already extended the warranty from a puny 90 days to the more reasonable one year warranty that consoles are still covered under, unless they specifically suffer from the Red Ring of Death (marked by three blinking red lights).

Xbox exec Peter Moore also published an open letter to the "Xbox Community" addressing hardware failure and promising "policy changes intended to keep you in the game, worry-free." Whether or not these policy changes include actually fixing the underlying hardware issue or just improving the support after the fact is unclear, but Moore finishes saying, "If we have let any of you down in the experience you have had with your Xbox 360, we sincerely apologize. We are taking responsibility and are making these changes to ensure that every Xbox 360 owner continues to have a great experience." Classy show, Microsoft. Real classy. Let's hope this move is coupled with hardware revisions to keep your customers -- and shareholders -- happy.