Forgot about the three year warranty. It does help ease the worry!
My main concern regarding the red ring of death, besides the inconvenience, is the worry that I would get back an older refurbished model. I understand this is how the failures start mounting.
My paranoia aside, it's the library of games you're buying into and it really is a good 'un.
Oh, The Force Unleashed looks amazing (if Star Wars is your thing)!
-hex