Hey fellas, I can repair the RRoD (and currently batting a 100% success repair rate) here are what steps I take with RRoD repair:
* It begins with opening the case with tools designed not to leave any cosmetic damage, so no one will ever know.
* I'll pull out the motherboard and remove the xclamps holding down the heatsinks to the processors.
* I'll clean and polish the CPU/GPU with official Artic products.
* I'll replace the cheap thermal paste MS used with Artic Silver 5 before reattaching the heatsinks
* After reattaching the heatsinks, I will perform a solder reflow and reset
* Replace old thermal pads on the underside of the board with brand new ones
* Before re-assembly I will clean the internal case to remove dust.
* After re-assembly I will play a game in the drive for 1 hr to ensure the RRoD is gone.
Basic service = 50 dollars, including return shipping (to the lower 48)
I have a few other options, too. If you've had it repaired before, I can do the 12v fan mod to help the 360 run cooler, as well as put more heatsinks on the 360 to help drive down heat.