I have had mine for about 2 years and havn't had a problem yet, knock on wood, my brother in law has had it happened to him once a couple of years ago though just a monthe after I had gotten mine.
Myn is out as we speak, Stupid ring of death. I had 3 for the longest time so it would sometimes work and when it did, I used to leave it on for long time just so I could continue to play. Now I had to send it out cause 4 rings appeared so I just use my brothers...haha