During an interview with Gizmodo, Xbox general manager of console developement, Leo del Castillo, revealed some details regarding the internal architecture of the upcoming Xbox One. The most important detail includes the ability to self-regulate its power and throttle down if it detects overheating.
According to del Castillo, Xbox One has much more flexibility when compared to the Xbox 360 as it can considerably dial back the power the system. Back with the Xbox 360, Microsoft couldn't do much if the system started to overheat and was unable to dissipate the heat so it had a limited time before it simply shut down.
On the other hand Xbox One can actually dial itself back to a lower power state. Del Castillo said it can even get to a mode where it actually does not need any airflow and can be cooled passively. He also noted that Xbox One was designed so its fan will never get up to its maximum speed under normal environmental conditions. Of course, the fan will still have an ability to get up to its maximum speed if the airflow is being compromised and it would "solve the condition" automatically as users will not have to do anything.
It is good to know that the infamous "red ring of death" issue will not affect the new Xbox One and we certainly hope that Microsoft will have no other similar problems.