XBOX 360 - E74 WITH ONE RED LIGHT

Problem:

CAN YOU HELP AND PLEASE DON'T SAY CONTACT MICROSOFT.

Solution:

1. I found out how to fix this problem from this blog:
   http://xbox3603redlights.wordpress.com/
   It is a GPU error and takes about 30 mins to fix!
   Got it sorted though!
2. DO NOT USE A TOWEL!!! This will mess it up for good.
   
   I fix a console every day and put them on ebay, out of the 100s that i have fixed only 1 or 2 have ever not worked after doing this fix:
   
   1. One of the main reasons that causes you’re Xbox to die is over heating. This can cause warping of the motherboard due to the X clamps that Microsoft use to hold the heat sinks in place, which in-turn can damage the minute solder points all over the motherboard. The first thing we need to do is open the 360 & remove all the internal parts. There are several tutorials for this, here is 1 of them: http://www.xboxchopshop.com/catalog/man_360_open.php
3. fixya experts found the solution for the 3 flashing red lights problem. Click here for more details.
4. I had the same problem. I basically put a towel round my x box for ten minutes, used a different AV cable and it worked. for some reason my old AV cable is working now too. its better to try this than paying for the fix.