My sons Xbox had the 3 red lights! It depends what colour of light is showing on your power pack the colour indicates what the problem is! The light will either be red,amber or green, my sons light was amber and that was due to a faulty power pack, Microsoft were very obliging and replaced the power pack free of charge,it arrived in 3 working days! Here is a link that will take you through the different lights and how to fix the problem!
http://support.microsoft.com/kb/907534
Hope this helps, good luck!
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