Originally Posted by M_Six
He had excellent ratings. My only complaint was that the packing could have been better. And going through Amazon mitigates most of the risk anyway.
I look at it like this, when you pay a couple hundred more to buy from an authorized dealer, then you've essentially paid $200 for the warranty, which is only a year. So you base your risk assessment on the quality of the product and decide if your risk of a failure is high enough to warrant the expenditure or low enough to forgo it. I've heard over and over that extended warranties on TVs and such through Best Buy are a waste, and they're usually far less per year of coverage than the cost of a Canon single year warranty. I posted a link a few days ago to a new 7D from 47th St Photo. The 7D was like $1269 or there about. Folks over at POTN are telling the OP to buy from B&H or Adorama instead, despite the fact that 47th St Photo has excellent ratings. But because they're not an authorized dealer, the warranty would be in question. The killer is, B&H and Adorama want $1599 for the 7D. So is the warranty really worth $330 in this case?
My experience with Canon products tells me that problems are rare if you take care of your equipment. I never had an issue with my Canon SLRs and my T1i has been flawless, as have my lenses. I'd say the risk is low. (Of course having said this I've probably jinxed myself.)
extended warranties are just how the companies make proffit. It doesn't really do anything for the consumer. (minimal)
I read the stats somewhere on how much they make off the extra warranty, the company pretty much runs on the profits of it alone since the markup on a lot of the items is minimal. (which is how they make companies like target struggle to survive)