I agree, partly. Having to dish this stuff out, I've also seen the people and products that benefit from "extended warranties."
I swear, if you buy a printer, and a retailer will replace your printer should it come under one of the numerous bullet points listed, paying something like $36 for two years is worth it. I've helped out customers that had their printer crap out in a single month due to manufacturer's fault, so they came in and walked out with the same printer that very day. HP, or whoever, will want you to send in the thing so they can look at it, and who knows how that will go down and for how long the process. Then of course there have been times we received customers who were told by a company's customer service to come to us instead.
On a console though W&S, you're good to stick with a manufacturer's warranty. If there really is a major issue, it's gonna be an issue that will rear its ugly head within that year. Any possible YLOD-like issue in the future will have its solutions, either by third party repair or just blowing another couple hundred on the Slim version.
/flashback