The bad ass new dashboard came out for the 360 back on Nov. 19.

"Various forums online have threads and threads of people reporting anything from connection freezes, slow downs, lock ups, broken TV connections, and so many other different numerical errors that, if all of them were strung together, could potentially measure all the way from Earth to the moon (and back)."

There are many reports of bricking, rrod, and with that said, be careful on your updates! My advice is to ALWAYS wait about 5 days... or just ignore the new ones until it becomes necessary. The PS3 had a bricking firmware on 1.40 i think, and I was going to update that night but was too lazy, lol.