I used to think that to, but I am a changed man. I had my Game cube for about a year, and one day it just would not play any games. I had purchased an extended warranty for it, I paid way to much, a lot more then the site mentioned above. The warranty came in handy. I called the warranty company, and explained to them what happened, and they told me to ship it to Nintendo, and it will be replaced. 2 weeks later I had a new unit.
I do agree with you to a point though. But think of it like car insurance.
I will probably buy one of the TV warranty's once they are put on the site.
Sharpshooter