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Recently I was told the average lifespan of our Teleco Toshiba 424 phone system was 3 years. We have had this for over 6 years now and I'm a little worried ?

Should I be?
No if your system has been taken good care of and in a good enviroment it should/could last 10-12 years or longer.
I'm just guessin' here...but did the guy, who told you 3 years, happen to be trying to sell you a new switch?

have fun
rich
Going on 7 years. Had a hard disk fail on the voicemail card, but I was able to do a data recovery, image the contents onto a larger 40 gig drive, and voila!

I'd recommend taking the voicemail down, pulling the drive off, and creating an image using a package like Acronis TrueImage or WinHex. This way when the drive fails, you're not totally SOL.
I have many DK280's and 424's in the field for 10 years. Except for voice mail hard drives, the system itself could last 20 years. Make sure you have an UPS, not just a surge, and if you are in a lightning prone area, lightning protection on the CO's.

I have several older Toshiba XII's and XX's over 20 years old and still running strong.

Andy
https://www.teleco4.com
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