Hello my name is Tim Ehrhart and I incurage you to use your warantee if you still have one, you will not lose any data as long as you maintain the same hard drive as that is where xbox saves your profiles and everything. If you do decide to try to repair it yourself here is a great link http://www.llamma.com/xbox360
/repair/xbox-360-repair.htm I repaire these all the time and have a lot of walk through videos on youtube, just search my name on there.
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