Xbox360 Warranty Extended...good or bad?

So by now you've all probably heard that Microsoft (henceforth known as MS) has graciously decided to extend the Xbox 360's warranty for another 3 years, on top of the one year they already added to the warranty a year ago. This new extension is specifically targeted at that most vile of problems, the Red Ring of Dead (henceforth referred to as RRoD).

It would seem that this move by Microsoft would seemingly ease the fears of many a 360 owner. However, I'm not quite convinced that MS has taken the right path and that the woods ahead hold many a dire and diabolical beast. Extending the 360 warranty for a further 3 years, while at the surface seems like a wonderful idea, to me just screams of potential problems with the 360s that MS has yet to devise a fix for. So far the new addition of an extra heat-sink has, in the short term, solved some of MS's woes concerning overheating, but can this little fix really be a long term solution?

Now, don't get me wrong, I'm a staunch supporter of the 360. I also think that MS has done a bang up job when it comes to customer support concerning problems that have arisen with the 360, relatively speaking. Because really, unless they come to my house and personally hand deliver a brand new 360 the customer support will always only be "Okay." Hell, I can't even say that my 360 hasn't had its ups and downs. I've had that dreaded RRoD pop up twice now, although only because the outlet it was plugged into lost power.

My fears may be totally unfounded and who knows, hopefully they will be.