The article here has some pretty interesting user experiences in the comment section following it.
Some examples:
So, because a few people report problems it’s a giant buggy mess? What about the millions without problems? Any large system update on ANY platform will have some issues, and this is no different. The NXE is in no way a failure.
Today I got my first RROD on my 360, after update wos done my Xbox restarded with 3 red lights blinking, no picture. After 2nd restart the RROD gone, the picture came.No problems with games or , freezing or audio. Just issues with some Xbox live/game demos downloads. My 360 is ON 3 hours allready I hope everything is OK with the hardware.
Also a PS3 owner.
Well, I downloaded the upgrade. My system froze AFTER the upgrade reported being finished. Upon trying to restart it, I got the three red rings of death. Going to let it sit for a while and see what happens. What do I do if it IS officially dead?? I haven’t had it for three years yet, am I still covered?
Update today, no longer any audio over HDMI, got one red ring and E70…box is ONE WEEK OLD.
Actually my xbox got RROD’d today because of it.. I’m sooooooo disappointed because of it too.. I downloaded the update this morning and had to go to school so as soon as I got home I turned on the xbox and started playing it.. I was going through all of the cool new features.. after I thought I had seen enough I popped in Halo 3.. a little message came up from halo 3 that said saving the game to the hard drive could slow things down tramendously and then just as I was about to push “A” to skip the screen went black.. I restarted my xbox and got the RROD.. So I turned it off and was about ready to weep.. I left the console off for a couple of minutes and started it again and then it started like normal and everything seemed to be going fine for about 5 minutes and then it did the exact same thing.. So I disconnected my Xbox and took it out in the garage and blew it out and LOTS of dust came out..
Started it up again and it worked for about 15 minutes this time and I actually got about halfway through a Halo game.. and.. BAM RROD.. sooooooooo BOOO.. As of right now i’m just gonna let my xbox sit for a while seeing as how the longer i left it off the longer it worked.. who knows.. i’m sure its toast but i’m crossin my fingers..
Just FYI, never had a problem with my 360. I downloaded the NXE this morning, and I am sending my machine to Microsoft tomorrow, and while on the phone with support (this was after the 3 rings of death) I could hear many many people telling their customers the same thing I was hearing. But they still never admitted it. When asked she said, oh no people are just calling because they are excited about the NXE. Hmmm I know when I like a product so much the first thing I do is call support.
I love my 360, also have a ps3 mainly for Blu-Ray. But don’t think this is cooked up by some PS3 fanboy. unfortunatly for some of us, it’s reality. 
Hope to be back in the game in 2 to 4 weeks!
If nothing else, you can see just how many people still don't use Firefox, or just don't care
: P