My 360 is crashing, but no ring of red

[Laughing Mechanicus]

Just take it straight back, it's not worth putting up with that kind of thing straight out of the box.

Did it have a sticker covering the CD tray when you unpacked it? Did the battery compartment for the wireless controller have a little leaflet in it? I have a feeling the "loud smelly" ones are actually ones which have been repaired then are being resold. My first 360 was like that and when I replaced it I noticed my new one had additional packaging my previous one had lacked (like some cables being bagged, free batteries for the controller, protective tape on chrome bits etc...).