If you think that your service contract was extended to cover your system for 5 years you are wrong. I thought the same thing. When I bought my service contract the 360 just launched. At that time the standard warranty covered the system for 90 days. I think I paid $70 to MS to extend coverage for 2 years. Of course my launch system shit the bed soon after purchase, so I made use of the warranty early and often, so I figured I made a good investment.
