it will be very interesting to see the amount of people who have paid the £55 to a repair company rather than M$ £85 and how they handle it, refusing to cover the warranty will surely cancel out any hope they had of putting a positive spin on this.
Stop whinging. It's all you've done since the start of this thread. Who cares about spin or whatever at the end of the day the 360 is now covered for 3 years against the red light which means 2 things.
1) That newer consoles will have the problem rectified.
2) The biggest single reliability issue is now covered for 3 years giving many peace of mind.