One thing people forget about extended warranties, the companies that offer them do so as a profit making venture, not a community service. This means they come out on the winning end.
The odds are that you won't need the extended warranty for repairs exceeding the cost of the warranty. So the warranty company profits on the deal.
Someone always steps up and says: "Well, (insert name here), got the extended warranty, and it was a good thing he did, because they replaced this and that, and it would have cost him a fortune.
Conversely, you never find a group of guys bagging about how they spent hundreds, sometimes thousands, on extended warranties they never used, leading some to the assumption that it does not happen.
If volunteering to be robbed by the warranty company gives you piece of mind, the option is available.
It is however, a crap shoot.