Broken XBox 360

My XBox 360 decided to start blinking red lights at me on Christmas Day. This is an XBox that's seen a lot of use and never had a problem for the last month, but suddenly, after a short road trip, now it's unhappy. I was playing a game when the screen went to a mess of horizontal and vertical lines, and then black. Power cycle, and it flashes 3 red lights - all but the top right one.

Apparently this means "hardware failure". I let it sit for a while and fired it up again and it came back on, but only for a minute or two until it did the same thing.

Nothing feels particularly warm so I don't think it's heat, but I don't know what else could cause this sort of failure.

Now I get to spend the holidays without the XBox 360 (which just became a much more interesting toy since I got a lot of XBox related Christmas gifts), and then when I get home, I get to wait for Toys R Us to have one in stock that I can swap with. Merry Christmas to me.