The Powerbrick is also a surge protector so plugging into another one would overload it.
I got the 3 red rings 15 mins after owning my 360 because it was plugged into a protector.
but from the sound of the poster is sounds like a drive issue but just to see if it helps plug it into a wall rather than a power strip and see what happens the 360 Manual does advise you to plug it into the wall.