I traded my Premium 360 up towards an Elite today.  I have had 3 Premiums break down on me & was on my 4th.  Thankfully I had an extended warranty so I didn't have to pay to get the system fixed 3 times, but it was a pain in the ass to have to go through the process of sending the console into MS & it's really negligent on their part to release a system with so many bugs & hardware issues. 

Do I love the 360?  Oh yes, very much.  I love the games, the power of the system & the whole Live implementation.  But that doesn't mean that I will turn a blind eye to it's issues.  I picked up the Elite today in the hopes that I will have better luck with it than I did with my Premium systems, but if the Elite doesn't last me at least 3 years, I will be done with the 360 altogether & all the money I spend, (and I spend a crapload of money on videogames/systems every year), goes right back into my PC & PS3.  It's not something I would want to do because there are some seriously rocking exclusives coming to the 360 that I'm dying to play, but I absolutely would on the principle alone.

So it's all on you now Microsoft.  You come out with another system not even 2 years after the original 360 launch & expect people to buy it for more money even though the original systems had so many problems.  That's a bit of a bitter pill to swallow, but I still shelled out the extra money to get the Elite in the hopes that it will be a stable system & to try & show a little brand loyalty.    

Don't let me down again Microsoft, I've been too lenient on you in the past with the technical issues of your system, but no more.  Here's hoping the Elite lives up to it's name, because the Premium sure didn't...