ExMachina
fails the turing test
The new 65 nm chips produce less heat, but the design flaw which warps the mobo when any of its components start to overheat is still there. So yes, the risk of RRoD is still present, even in the latest batch of 360s. There's a fix somewhere that requires you to take off some clamps and resolder certain points on the mobo, but I wouldn't recommend it unless you have some experience with computers. I'll look around for the link, nonetheless...Microsoft just started using a new chipset for 360's that supposedly fixes the ring of death issue. The new chipsets started hitting stores sometime late November I think?
Can't remember the details, but there was a story about it on 1up not too long ago.
I got RRoD once and have been taking extra care of the replacement, just as I would with a PC... Been keeping it well ventilated, using compressed air to clean dust out of the vents once in a while, and keeping the ambient temps in whatever room I use it in reasonable.