I never go for those warranties, but I've usually lucked out and gotten great service through connections.
Not for PlayStation, though.
We ordered an iPad from The Source for my sibling, and got a heavy duty Otterbox for it, but didn't get the protection plan because it was half the fucking thing's price (I think it was $130-140!) They have special needs so we had to get the case at least.
The warranties are usually overpriced.
I remember when I got an iPod 4th gen 20gb for Christmas one year. My Mom let me go with her to Future Shop to buy it, and the guy talked us into the warranty. The thing ended up freezing, so we tried returning it for a new one, just to be told that "Apple now wants first crack at all defects, so you need to ship it to them." We raised hell.