Microsoft has extended Xbox 360 warranties for another year!

Wow this one surprised me. Microsoft has extended the Xbox 360 standard warranty on all new products and for people (like me) that are within their first year of ownership of a 360. I was jumping for joy when I heard this one because I did not buy an extended warranty when I purchased my 360. I still hope it applies to me and it sounds like it should even though I did not purchase the extended warranty.