Thanks to all for this.....
My 360 was giving me all sorts of trouble....the main one was the one red light, followed by 3 rings every now and then....but the main light was always e74 one red....
I went about the x-clamp...this was very temperamental after this fix...it would work for awhile....id turn it on, play for awhile...then it would start having artifacts on the screen....id keep adjusting pressure on heatsinks and it would work for a little....then start to e74 on me!!!..
Then i came accross this fix....it worked 1st time
I didnt have a powerful heatgun...only one that went to 500c....this was more than enought though..
I heated the back of the board focusing on the gpu and ana side in up and down motions...keeping the heatgun quite close to the board....i done this for about a couple of minutes...back off for a bit and then reapplied....i heated it up to a stage where i oculd see a bit of fumes coming off...though that must be enough and stopped it.....waited about 30mins and made sure the traces were cold to touch.
Reapplied my heatsinks...tested and worked first go!!!...i had the 360 running all night just to make sure it doesnt have any weird artifacts and doesnt ring on me again...all fine...i turned off in the morning and back on, all perfect

....how do most on these boards test to make sure any fix is working properly...leave it on full all day long???
THANKS FOR REVIVING MY XBOX 360:)
On a side note: Can you really do much damage to the board heatgunning from the backside of it?....i mean all the danger stuff is on the top side like the big capacitors etc???....im really happy to fix my 360 though really need to know when to stop heatgunning...what do most go by ... im guessing too hot is no good...but no enough will make the ring come back eventually....