[Galaxy S III General] overflyer:
I strongly disagree with you. Im from Germany and bought my S3 at Vodafone in June. Until the first CM10 alphas I did OTAs and then switched to CM10. Just recently I wanted to sell my S3 because I slightly damaged the grey frame when I droped it on the street, but I only flashed 4.1.2 and even the newest 4.2 with ODIN, so no OTA. So, today when I saw how ridiculously low the prices for reselling a S3 dropped and I decided to keep it and I wanted to reflash CM10.1 (29/12) I also got the red exclamation mark issue!

At first I also got no menu bar with phone app or whatsoever shown to me because also the factory reset doesnt seem to work right anymore. After I flashed the old bootloader and recopied all my files from a stange folder called 0 onto my root folder of my internal SD, CM10.1 was fully functional.

EDIT: Sorry wrong quote. I wanted to quote someone who said: "Dont do OTAs because Samsung flashed new bootloaders with it." ...cant find him anymore, though^^

EDIT2: I correct, my CM10.1 is still broken, no matter how many factory resets I try :(. Gapps are flashed, but after I setup all my account I got no menubar on the bottom :(

EDIT3: Strangest things going on here. So I used the quick setting with two finger gesture which were apparently still working to get into settings and get to CM-OTA updates. I downloaded just another CM version for the heck of it. After it downloaded and restarted and tried to aplly the update it said: "E: failed to mount /sdcard (No such file or directory) E: Can't mount /sdcard/0/cmupdater/cm-10.1-xxxxxxxx installation aborted"

I noticed that the CM-OTA recovery locked different than the usual CMW recovery mode and I said to my self: Ey what the heck, lets try another facotry reset and magically IT WORKED. CM10.1 is running.

Also my internal memory when connected via USB seems to look normal now again. However, when I reboot into normal CMW recovery mode and I want to acces my internal storage, it directs me first to /0 and THEN I can see my usual root folder. WTF. Why is my internal root structure apparently so messed up?

EDIT4: OK the no bottom menu bar was a mistake of the CM10.1 29/12 version I guess, the 28/12 is working fine, again. CM File Manager tells me, my internal storage lies on /storage/emulated/0 now....WTF? SD-Card is also shown (I got NO external SD card in my phone right now) on /storage/sdcard1, but empty. And /storage/usbdisk0 is shown, also empty. There seems to be also /storage/emulated/legacy, which contains folders as any internal SD (Downloads, DCIM etc...) card, but that is clearly not my system and I can not see that legacy folder when connected to windows. Ive been using this cell phone with stock and cm extensively now, but I never saw that kind of folder structure before. Is samsung up to something? I dont trust them....

EDIT5: Seems that /storage/emulated/legacy is a copy of 0, cause whenever I install an app its folder also appears in the legacy folger. It also cannot be deleted. Why do I got a fully functioning and actively working copy of my android system on my phone?^^ / looks normal by the way. strangeness only starts when I enter /storage like said above.