u sure it's not banned on xbl?
one. not even close. I think all of the old models pre-HDMI were suseptible to rrod.
regardless of model you're risking one that could have been fixed from rrod and it's temporary (it'll die with overuse or in a couple months max)
it could happen - you could open it to see if the warranty sticker is removed and if it is they've done shit probably. even if it isn't check the xclamps since the stickers can be removed/reapplied with care
Rest of that sailer wench series?