NOOOOOOOO!
Damnit, my 360 finally RRoDed on me, exactly one year after I first got it. Of course it happened right when I started to play Portal.
It looks like I have a 2-year Circuit City warranty, so maybe I'll see if I can't exchange it tomorrow before trying the refurb through MS route. Maybe I'll end up with a Zephyr/Falcon with HDMI, that would actually be pretty cool. I'm not sure what to do to save all my profile and save data from my HDD, though...
EDIT: The 'towel trick' worked, we'll see how long that lasts and then I'll try my luck at CC.