Cover it with sauce and eat it.
My own red ring nightmare has already been chronicled on this forum somwhere, but in short, I tried to get it fixed by 'professionals' who at least have some idea about this shit. After two aborted attempts, I gave up and bought a new box. My old one is sitting up on a shelf in my closet. Why ? For some reason I feel bad about throwing it away. But it now has about as much use as a chocolate kettle, so I may as well just put it in the trash.
Perhaps your box and my old one will meet and swap stories in X360 heaven.