I turn my Xbox on, my fan almost instantly turns on max, and after just a few seconds, the Xbox turns off and 2 red lights flash. I used Arctic Silver as my thermal compound, and I've tried using a variety of different amounts, cleaning it up each time in between. No matter how many different amounts I try putting on there, it does the same thing. I also tried taking my upgraded heatsink from my Xbox Elite and putting it in this Xbox. Could it be the thermal pads on the other side of the motherboard?
Suggestion:
Aaron the damage has already been done wrenching down the heatsinks really won't fix anything. You have to understand how the xbox works first before you can attempt to fix it. Take a look at this picture.
http://i145.photobucket.com/albums/r217/Carnifreekshow/gpu%20reball/Xbox_Architecture_large.gif
You'll see that the cpu is actually piggy backed off the gpu and the gpu sends all the info to the southbridge. What does this mean? It means that somewhere between the cpu and the southbridge lies a connection issue. The xbox can't see the thermal sensor and it's immediately throwing 12V to the fan header. To fix this problem you are going to need heat, you need to remelt the solder that connects the cpu to the board.
If i were you and had limited resources i would try the heatgun technique.
Here's a link to it.
http://www.youtube.com/watch?v=MEvfBS6Tams
Just follow the video then mount your heatsinks to the board and it should have fixed your issue.
If it didn't fix your issue you'll need a professional reflow. Contact me if you have any questions, just click on the link to my yahoo answers profile.

{ 1 comment… read it below or add one }
as said in the video, maybe your heatsinks arent tight enough
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