Yeah and the second you open it, bam, all warranties are gone, and if you don't get it fixed now, haaha your screwed, because even if you do pay microsoft the $160, they still won't repair it

!!!!
Don't trust this method,
what would you rather:
spend $160 and get it fixed 100% by MICROSOFT and have a warranty
or
spend $50 and possibly get it fixed by YOURSELF, and not have a warranty, so if this method doesn't work, thats $50 wasted, plus you have to buy a new xbox
it's better to be safe than sorry