I, for one, have greatly benefited from extended warranties. As I mentioned before, one out of warranty repair can easily exceed the cost of a warranty. Some will never need to use such a warranty, but insurance is always a gamble and a judgment call..
I've heard good things about Square Trade, although you will be presented with another dilemma if you got your set at discount...whether to insure for actual discounted price, or for retail (costlier), which means you get more replacement value.
With regard to BB, I've never bought a big ticket item, just smaller things such as phones, headset, etc. In my experience, with these smaller items, BB simply replaces them. It's likely that with HDTVs they would attempt a repair before replacement, which leaves you at the mercy of whoever BB sends out.
But I've never lost from buying an extended warranty.
So...how do you like your Mits a day or two on?