Does the Xbox 360 failure rate make it a bad buy?

Xbox 360 failure rate
Xbox 360 failure rate

Do you own an Xbox 360? If so then there's a pretty good chance that your Xbox 360 has failed once, contributing to the absurdly high Xbox 360 failure rate which was announced in late April by

The console failure rate survey found out what anyone who has a few friends with an Xbox 360 can tell you: the consoles die. In the survey of 500,000 individuals NoFussReviews found that 42% of Xbox 360 owners have had their game console repaired or replaced and of those individuals 55% have had to have their console replaced more than once.

Specifically the Xbox 360 failure rate is so bad that 12% of respondents have had to have their 360 fixed three times, 6% have had to have theirs fixed five times and 3% have had their Xbox 360 repaired or replaced more than five times. These Xbox 360 failures include the Red Ring of Death or RROD error, the E74 error and any other general console failure.