You read correctly. This is an OFFICIAL press release from Xbox stating that they will pay everyone back who had to have their Xbox360 repaired due to the RLoD. Also, the new 3 year warranty will be extended for the price of on the house to anyone in the world who has the console. The new warranty is very specific and will only deal with issues that result from the RLoD and not other problems. You can contact Xbox by following the above link. I can’t say anyone saw this coming.
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One of the saddest comments on this whole affair is that Microsoft fought till the bitter end before taking this action. It was so obvious to every XBox 360 owner, and every gamer for that matter, that the original XBox 360 design was flawed. Their arrogance on this was the classic “We’re Microsoft, we can do no wrong” corporate mindset that continues to cause them problems to this day. They are slightly more humble, but not much.
-Travis