You have to be VERY careful heat gunning though, its not a case of holding it on right over the GPU and praying it will re-solder, your more likely to knock off all or some of the capacitors on the bottom of the board then your screwed.
It has to be an even spread of heat with ample protection for parts that are susceptible to heat, and do no move the board once completed.
Its ok for a budget fix but dont expect it to last forever.
Im currently looking into reballing solutions as a complete fix for all errors and a lasting solution for a good 3 years or more.
You can x-clamp and heat the board but its only doing temporary repairs, only takes more heat and your back to square one, so the more cooling you can get put in there while its open the better.
They should have used leaded rosin core solder rather than lead free rosin core.
Heres one from the 'hall of horrors' collection I have please do not scroll down if you wish not to see a damaged xbox lol!:
this one was one that someone brought to me that saw the "heatgun fix" on youtube and thought it would repair his beloved Xbox, as you can see he heated the bottom to much and the GPU has completely fallen off, when he showed me it i really couldn't stop laughing, theres no way of me fixing it yet till I can confirm a better price for the re balling equipment!
Stu