Yeah, no problem. I just got my 360 about a month ago. You might want to go to xbox.com and search through the forums, there are a good number of defects and shit that people are having, ranging from the "3 red lights of death" to the discs getting small cracks from the cases... Nothing too serious, and every system has problems like this, esp. during the first year or so.
I myself haven't had a single problem, but you should still do a little research before buying it, ya dig?