Yep Upto 3 years.... And beyond
Mine was 1 month over the 3 year.... Phoned them up... They agreed to fix FOC... Printed off the label got next day collection from UPS (Tuesday and they sent me a new console that arrived the next Wednesday!)
Restored my faith in Microsoft... Everyone makes mistakes, And I think they couldn't offer a better service in getting them repaired even if you have to send it to Switzerland!!
Adam