Why not? The giants themselves finally admit it.

MICROSOFT FINALLY ADMITS RROD FAULT
They have turned deaf ears whenever the question "what is causing the problem" is asked. Not anymore.

Source of information : http://www.actiontrip.com/rei/comments_new...tml?id=012108_3

http://www.joystiq.com/2008/01/19/rumor-an...the-red-ring-o/

Credits to ActionTrip.com ->

As a courtesy to gamers who were "cursed" with staring down in disbelief at the Xbox 360 "red ring of death," Microsoft extended the console's warranty to three years. The company, however, never really offered an honest and precise explanation as to what really caused the hardware failures indicated by the three dreaded red lights flashing on some poor sap's X360.
8Bit Joystick interviewed an "inside source" at MS who allegedly participated in the consoles manufacturing and testing. According to the source, the console was simply rushed in order to gain a headstart on the market before Sony did. Due to this, cheap heat sinks were used in production, which would account for the RROD problems. What's even more concerning is that MS may run out of suitable replacements for systems that have experienced these issues.

This interview confirms what some of us already suspected for a long time. Also, there's a good chance it's true, since Jake Metclalf, author of the interview, certainly knows how to pick his sources - he had an anonymous tip from Microsoft one week before the MS-Bungie split.