Xbox 360 Warranty Extended to 1-year

Just received an e-mail with this announcement:
Effective December 22, 2006, the Xbox 360 console warranty has been extended to one year from the date of purchase. The extended warranty applies to new customers and existing Xbox 360 owners. If you experience hardware issues with your Xbox 360 console within one year of purchase, your console will be repaired at no cost*.
Good timing on my part I guess. Just got my Xbox 360 on Monday afternoon. Good times, good times. Here’s more information on the warranty change from Microsoft.