It crashed a couple of times on me, hung up, and had some nasty glitches. I didn't have a single disc error, and the console sounded the same as it always does while playing.
If you have a hard drive and the NXE update I suggest you install it. That will remove the strain on your disc drive and make the machine quieter, if nothing else. It could make it more stable if the disc or disc drive are involved in your problems.
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