What does one flashing red light plus an E74 error message mean for a xbox 360?
Sorry, your console has the E74 and will need to be sent off to a Microsoft Service Centre for repair. There are many factors which can cause the E74 error message, Microsoft claims ‘that each incident is unique and must be looked at individually to fix the problem’. You did the right thing by calling Microsoft, let the experts fix it (especially if it is still within warranty), and within 2 – 3 weeks it should be sent straight back to you. I myself got my 360 back from Microsoft on Friday for the Three Flashing Lights error, and it is working perfectly. Remember, E74 is a major problem for 360s and therefore will be covered by the extended Microsoft Xbox 360 warranty (up to 3 years from purchase date). Hope this helps, and good luck!