Since you got it from eBay, I would buy the warranty because you don't know how the previous owner treated the 360. He could have abused it, or he could have done a great job taking care of it. You really don't know. You also have to consider the possibility that he could have returned it to MS to fix the ring of death.
It's really up to you. If you want peace of mind, then get the warranty, but if you don't think it's a waste of money, then don't get it.Square trade warranty for xbox worth it?
I got it and I thought it was worth it, the 360 is a very unreliable machine and many of my friends are on their 3rd or more of them. Their customer service is very helpful and I was very happy with the warranty.
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