Has any one had the x box 360 Red ring of death?

I personally have not had the dreaded red rings of death, but I have seen it pop up on my friends XBox a couple of time and it is probably one of the most frightening things to see as a gamer. Every day I turn my own XBOX on I have to hold my breath and stare at it while it loads because I am so afraid that it will break. Hope that it doesn't happen to you again. A child that I teach swimming to had his break, sent it in, waited however many weeks it was to get it back only to have it break again.

Good Luck and happy gaming