Red rings of DEATH MUAHAHAHA?
If there are only 3 rings, it's fried and nobody but Microsoft can really help you. I know people that have just hit the X-Box really hard and it worked again though. A surge probably wouldn't cause that, and I try to keep all my electronics on surge protectors anyways just in case. Usually the rings of death are from overheating issues.However, 4 red rings can be fixed by plugging in the A/V cords into the back of the console :P
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