This is the only true long lasting way of doing it, other then water cooling so I've been told and did it to my 360. I had 0110 pretty much the same as 0102
anyways. this is the ulgy way, but take your GPU and CPU sinks off, carefully clean the chips, then use alc to get them real clean, Get yourself a good powerful heat gun, one that has a max heat of 840 is excellent and just right.
You DO NOT need to heat the whole board, when you start, have the board between to boxes of the same height so the board is level. start the gun on it's lowest setting working a circular motion around ONLY the GPU, do this with the gun 4-5 inches away. Start "warming" the entire board up so it doesnt bow, go ontop and underneath.
Once your board is warm, one the lowest setting focus only on the GPU top and bottom with same times. have a piece of soldier on the gpu core "dont worry it wont harm it" this is so when the soldier starts to melt, you know that you've almost reached the proper temp.
Work the GPU top and bottom for 3 minutes to warm it on its lowest setting "my mastercraft has low and high with low being 430F and high being 835F. once you have done that, flip it onto high, this time keep your gun 5 inches from the GPU continuing in the circle motion and occasionally give the whole board just a "quick" pass over to keep things warm so the board doesnt spring/ bow on you.
When I started to see the flux coming out of my solder piece on the GPU "lil piece I placed for guidance" I continued heating top and bottom for another 90 seconds.
In total I heated from start to finish, roughly 7-8 minutes.
DO NOT!!!!!!!! move the board for 30 minutes. Someone said they were impatiend and moved the board after 15 minutes... have patience!!! this thing cost us some good money, so why screw it up being inpatient!!!!
Ok, after 30 minutes, you can pick up the piece of soldier off of the GPU "no worries, wont stick to it" make sure your core die's are all very clean, then apply your thermal paste.
I also used the toothpick shim's as well, there was a fair amount of play in mine!
I also installed an 80MM fan on the GPU heatsink... people.. this is the FIX, I am telling you!
If you just do the heat gun fix, put it back together, I can assure you that your box will be 3 Red ROL with in 1-4 weeks.
Problem is, the new 1080p update microsoft made us do, fried alot of boxes really fast because the solder used is led free soldier "outlawed in the usa for childrens products" so the extra heat the GPU gives off due to this update was the iceing on the cake.
Now you may say, well.. I have a newer 360, I got the update in November, and mine is still good.. Dont even go there, I can promise you that your box WILL be 3 red ROL in due time... everyone's will until this issue is address "new 360 coming out in aprilish with 120gig HD an HDMI"
anyways, I am no pro, but I have done a good 30 hours straight of hard core reading before I did this myself.
I am fixed, and my GPU heatsink is running pretty cool "just a little warm to the touch playing Graw2 or F.e.a.r.
Want to know the BEST part of this boy's? this was my brothers 360 prem bundle he bought, and he was so pissed that he was a dummy and broke the seal when microsoft wanted 170 to repair it. now that he just found out he could have gotten it done for free just recently...I said well what do you want for it? I wouldnt mind trying to fix it.... Got the wireless controller, power brick, HDD!!!!!! and unit all for $30 bucks

can you say im the happiest guy in the world? hell yes..
Now..
I followed this one fellows method, but I used a larger fan the him. I started off with a cpu fan, but the heatsink was still getting hot, shut if off after 5 minutes in two games and my buddy hooked me up with a nice 80mm, which I might add.. fits the GPU heat sink PEFECTLY, only thing is you can only put two screws in.. this isnt a problem and it sits, and runs fine. I have mine blowing down.
I also sealed all the little gaps on the exhaust port with elec tape.
Now the only downfall to this method is that you cant put your dvd drive back in.
So here's the moral of the story, you can do the heat gun, put it back together and be back to square one in a 1-4 weeks time, or even worse, toast it.... or you can stop reading all these peoples ways of doing it and do it my way and have it look half assed for the time being "thinking on putting it in a PC case down the road" and have it last.
The ONLY major hardware fault issue is "THE GPU" nothing else, stop risking on screwing your boards up heating every damn chip up. Folks, it's only the GPU at fault here.
If anyone is too scared to do this, and lives in Canada, I'd be happy to it for you for a good price.
PS been into computers my whole life so I am not no teenager trying to talk smack here. The top priority is to get the gpu to stay as cool on that heatsink as you can so the solder balls dont screw up.
and stock in the case with the dvd drive, with the dvd drive in, there is only "1/8th" of an inch gap between the heatsink and floor of the dvd drive...
Microsoft... you built a damn reliable Xbox 1... im ashamed of you people with the 360 in rushing it so fast to overlook these things... or maybe it was a scam to make them millions on just the money some poor suckers pay for repairing them.
Eather way, with the 360 and Vista and Bill Gates retiring soon.... Thing's are looking dire indeed for Microsnuff.