katana this guy haf the same prob as u
UPDATE: (I posted this at xbox.com as well, but wanted to share with you guys here in case it might help)
Just wanted to update everyone on my situation. It may help some of you, or it may not. I spoke with a customer service rep and believe it or not she helped resolve the problem. What she had me do was:
1. disconnect everything from the console (all plugs, controllers, network) as well as disconnect the power brick from the outlet.
2. Plug the power brick directly into the wall outlet (she said that it shouldn't be plugged into a surge protector as the console draws too much power and has a built in surge protector).
3. Reconnect the network adapter, power cord, and anything else you disconnected in the first step.
4. Turn on your console and go to the dashboard.
5. Clear your HDD cache (there is a code that must be entered - call support or search the internet for how to do this).
6. After the cache has been cleared... Reboot and all should be golden.
This has worked for me so far, maybe it'll work for others. Hopefully the problem will not return, but signs are positive because prior to the call to customer support the console would freeze up or I'd get the 3 red lights within minutes of being turned on. But I was just playing it for about an hour and no prob. I'll keep my fingers crossed.
Hope it helps.
gamespot