Think about this. If you try to get a PS3 fixed out of warrenty, Sony charges like a straight $150 dollars. If you get the extention plan I do believe they even pay for the shipping (you call and they send you a shipping box) this to me is worth it since you only pay like $50 or 60 for the extention. I have the extended warrenty. A friend of mine bought my used PS3 and set it down hard (not dropped it) and now he has to pay them to put a new lense assembly in. There goes $150 out of his pocket.
well I had an original 60gb that ylod on me, that i sent to sony, and I only paid 129.00 over a year ago, and I got a refurb system that I then sold and got the 160gb system, but anyways I read the fine print on the plan, and yes it is cheaper I get that, but it said that you may not even get the original system back that you sent in to be fixed, and that's the only part that I'm hung up on.
Thats the rule with ANY Sony repair...
Heres the basic gyst of it.... for any Disc Read Errors, you will most likely be guaranteed to get YOUR console back. As pretty much everyone who's had a dead Blu-Ray laser or DVD laser, they sent their unit in, and they got the same one back.
For any other issues that are more towards more complex hardware issues, Sony will send you a replacement console.
So NOW, the issue you will have is.... are you going to pay $50 or more (depending on problem) for a 3rd party to fix your PS3, AND have you pay for shipping as well. As well as them going to upsell their own extended warranty to you, which in most cases is only going to apply to the problem that your ps3 initially had.