I like it. I've had mine since launch day and have not had a problem yet.
And the games are just starting to come really good now.
With Gears of War, WWE, TDU, Rainbow Six Vegas.
The new system with the HDMi output doesn't really worry me though.
I've got my 360 connected via component and it looks really good at 1080i on my sony 32in lcd.
I'll use the HDMi port for my PS3 when i get that.