I was using the Xbox 360 I had acquired... and suddenly it flashed E74 (Error) on the screen, and the little red light came back and blinked
I dismantled it... removed the old thermal paste, bought some more, applied it...
Still red.
I then used electrical tape to hold together 11 pennies.
I placed them on the HANA chip, and put everything back together.
I turned on the 360, it flashed red for about 10 minutes.
I restarted, and it worked again! And it's been working since.
Whew -_-'