The three-year extended warranty first announced in 2007 for any customers affected by the RRoD will now also cover the E74 error being reported by users, so you'll get your console fixed gratis. If you've already coughed up the cash to get yours repaired though, Microsoft will apparently be refunding you automatically.
The E74 error is a tad different to the RRoD in that the error message shows up on your screen rather than as three flashing red lights on your console. However, Microsoft has released a statement saying the two could well be connected.
"After investigating the issue, we have determined that the E74 error message can indicate the general hardware failure that is associated with three flashing red lights error on the console", said Microsoft.
"As a result, we have decided to cover repairs related to the E74 error message under our three-year warranty program for certain general hardware failures that was announced in July 2007."
Have you been affected by RRoD or the E74 error? Let us know below.