Is the Xbox 360's Red Ring of Death Fixable?

I was just wondering if the RROD was fixable or if it is permanent and can never be fixed.

Suggestion:

Whatever it is, you should get your console to your nearest MS dealer and get it either repaired or replaced (if you still have a warranty)
In some cases, it IS fixable, like some loose-connections, but in other cases it is best to get professional help. Trying to fix it yourself WILL void warranty.

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