I haven't found a thread matching these symptoms yet, so thought I'd ask.

I bought a lifetime Series 3 off e-bay. Upon connecting it up it was stuck in the powering-up, reset loop. I thought it might be a bad drive, so I restored a virgin series 3 image on another drive (320gb). That worked until it came to do the software update. It wound up getting stuck on the powering-up reset loop again after the software update. I tried yet another drive with the same results - works fine (including restarts) until it applies the software update.

Any ideas on what the problem is?