I was just playing Bayonetta and I suddenly got a disc read error message...but I had installed the game to my hard drive (to prevent just such an occurrence). This question reveals my technical ignorance, but...shouldn't that be a non-issue? Is my 360 about to crap out? I ask these things because I'm about to get Mass Effect 2, and I'd rather get the ball rolling on getting my Xbox fixed before it comes out (I went back and kept playing. It went smoothly, so maybe I'm just being paranoid). 

Before my first one crapped out, i was starting to get Disc read errors.
though i was playing off the disc....
 
I'd say its eaither getting ready to die,
Or
Just a freak occurence.
 
Don't panic until it happens again.