Not to beat the already dead horse too much
No, I will beat it some more. But serious on a slightly different topic of the value your getting, why its a "must have".
I bought my K20D late Feb 2009 the extended warranty was free and Pentax mailed me my warranty card. Now I have been shooting care free for almost 3 years. The K20D is a old reliable work horse; I think most would agree. But I was a really hard shooter I pushed it to the limits, sometimes. I have over 50,000 clicks on it. OK my main point. This summer (2011) my rear edial started to skip (a little) turning it to the left. It did not however render my K20D unusable, but since I had the warranty I sent it in to Pentax Repair (CRIS USA) came back with the rear edial replaced (not cleaned or sprayed!), bottom cover replaced, the AF checked and tuned (it was off) and camera cleaned. Great service. This repair alone would cost me probably about $280 Maybe more.
Now shortly after that using my K20D to do some BIF shooting I get home pop open the SD card door and it pops open but you could feel something let go. The rear SD card door lever no longer had a spring motion. The door had to be manually shut then turn the dial to close. Now this did not render my K20D unusable. Perhaps in bad weather as the door was no longer being pulled into the silicone sealing (its pulled shut in the K10D, K20D). But I still had a working camera. Until I thought wait, broken parts might be floating around in my camera; if I had no warranty I would remove the bottom cover and extract any broken pieces. But I did have a warranty and I had to stop shooting even one pic so Pentax could clean and fix it; in for warranty repair again. Pentax (CRIS) was great, superb. Pentax (CRIS) repaired my K20D in
just four days! Now that's fast service, this repair also included checking all manufactures specs and general cleaning. I would guess that repair would cost me about $200, worse $280, best $100.
Now the real kicker. I still have my free check-up I am going to use before the warranty is up this March 2012. CRIS will perform a check-up including auto-focus, aperture, shutter speed and a quick cleaning of any debris. This would cost me $75.
If your even a casual shooter you should buy this warranty. If enthusiast shooter, odds are pretty good something will need a tech to look at and fix or adjust or both during the three years. If nothing else goes wrong until my warranty ends I will have had three great years with my K20D and over $500 in warranty work done for free.
Believe it or not three years ago you had six months to buy the extended warranty and you could buy it from Pentax. However Pentax charged $99 for the extended warranty (say on a K200). Its even worth it at $99. But this is why I won't give ADORAMA or B&H too hard of a time over the $20. But I do wish they would promote it more (they won't) so lets remind folks now and then here