I got my 360 elite in 2007 and it only failed the day Mass Effect 2 came out (Crashed during gameplay) and due to the error being an E74 error I had it fixed for free and no problems since.
So in all I have had the 1st 360 I ever owned.
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Only owned 1, it was an early model Pro. Got it for christmas in 2006 and have sent it in for repairs twice. It overheated in 2007 because my stupid 10 year old self forgot to turn off the thing before bed and it RRoD'd in 2009. Never took more than two weeks for MS to send it back, so it was never a big deal.