The Xbox.com forums are, very much like a red ring of death, alight with outrage after multiple reports of a brand new E 74 Error Message, allegedly caused by the recent HDMI update. The real kicker? This apparent outbreak has occurred just days after Microsoft announced it was ending the extended warranty for red-ringed consoles. 

This new error is unique in the fact that it is not a traditional "red ring" problem. The classic "RROD" has three of the system's four lights illuminated in red to indicate a problem. The new issue only has one of the lights flashing in the dreaded color. 

I've seen at least one part of this new problem myself. Our Xbox has also very recently had an issue where one quadrant of the lights was flashing red, and it was accompanied by strange Japanese text on the screen. However, this was just prior to the update, and our 360 has functioned normally since. Those who have subsequently reported the error have not been so lucky. 

If it's not one thing with Microsoft's console, it's another. I don't think I've seen a system with such a wide variety of exciting pitfalls and thrilling post-purchase stresses. Unfortunately, this new issue will carry a price tag of $100 to fix for most customers now. Which of course, is very handy. 

Looks like wacky Microsoft has done it again!