I would agree with the last post by Ajones, it makes alot of sense and his advice seems to be based on logic not emotion. Here is my 2 cents worth.
I too worked in the industry (don't anymore) where I sold/dealt with manufactures/extended warranties on electronics and even more so on home theater devices, such as T.V's, receivers, speakers etc.. Some highend and some not so highend and everything in between for every major manufacturer you can think of from Sony, Mits, Denon, Yamaha, Panasonic, Toshiba, KEF, Energy, Polk, Klipsch and the list goes on and the 1 guarantee is that there is no guarantee.
There is absolutely no guarantee that your equipment will not break it truly is like gambling. But there is such a thing as a sucker bet and it goes both ways. For instance buying a $15 1 yr warranty on a $25 portable disc player may be considered a sucker bet. Or perhaps not buying a warranty on a T.V. that is still considered to be in its infancy with regard to the technology used to make it may also be a sucker bet. The notion that electronics get better after the 1st yr is ludicrous, meaning I cant tell you how many times a person has said "if its going to break it will break within the 1st yr" only to see them 1.5 to 2yrs later trying to argue his/her case to the store manager on why they should replace/repair it, in that case they gambled and lost. On the other hand i've never heard anyone go back to a store say 5yrs later when their extended warranty was up and argue to the manager that they should not have bought it. Can't really say why but it could be perhaps that after that amount of time they figured it was worth it.
There are things that I buy extended warranty on and there are things that I dont. Some of the things I consider are;
1. What does the manufacture warranty cover in relation to what the extended warranty covers. The 1st word before the manufactures warranty is the word LIMITED, I want to know what those limitations are. More often then not I've found that its limited to defective parts and workmanship and you will see things like, "we will replace a part with NEW OR USED at OUR DISCRETION" and they may or may not cover the labor involved with replacing that part because the parts warranty is 1yr but labor is only 90 days. Where as some extended warranties not only cover parts and labor equally but they also cover maintenance (which can be huge) and depending on the products they may also have a loaner program while your product is being repaired, not to mention some have even adopted some form of a no lemon program.
2. How long is the extended warranty and does it start after the manufatures warranty or do the benefits of the extended warranty start the day I purchase, it's different at different places. Also, how long is the warranty on the product I'm buying for example I've found that there are quite a few speaker manufactures that have 5yr manufacture warranties on them (not sure if thats still the case been a min since i've bought new speakers). In that case they better have a compelling ext warranty for me to buy it and it turned out they did. I bought the warranty on a set of speakers because the place I bought them from not only covered blown drivers but they also covered Sound Degredation meaning if I felt the speakers weren't performing the same they would replace the drivers for free for me anytime during that 5yr period no limitations and not only that but the benefits of that ext warranty started the day of the purchase and went through the manufactures 5yr warranty!! (yes i used it in both scenarios).
3. How new is the Tech or the tech that is used to make the device I am purchasing. This is a very important consideration. If its brand new tech (brand new being the key word) say only 2yrs old yet the manufatures warranty is only 1yr or less, ext. warr. maybe something to think about. Even when you buy a new car and it's say a new model yr you get at least a 3yr 36K mile warranty even though thats the defacto standard.
Whatever you decide, make your decision logically not emotionally, do a little research on the manufactures warranty and find out the benefits of the extended if it it makes sense buy it, if it doesn't make sense don't buy it and dont try and justify not buying or buying by basing your decision on a time you bought a warranty on something that is not even remotely close to what your buying now, remember logically not emotionally. Also, don't rely solely on the salespersons word, as he explains the ext warranty to you ask to see there ext warranty pamphlet and have him/her pointout even highlight the coverages they just told you about if they can't get a different salesperson, ask to speak with a manager or leave.
I know this is a long winded response but I hope that in some way it helps you.