I, too, had a good warranty experience. Five years ago, when I bought a '95 Camry, I bought an extended warranty. A little while later, I began feeling like I had made a mistake...why would anyone buy an extended warranty on a Toyota, I thought. But I just tried not to dwell upon it. I figured I'd write it off as "piece of mind." About a year later, on New Year's Eve, I threw a rod. It was ugly. But because I had the warranty, I got a new engine. That engine would have cost more than the warranty cost me. I also had a few other minor issues that were covered, and this drove the total value higher.
I understand the idea of putting money in the bank as a hedge against car issues. However, I also believe that human nature--if not life necessities--will take over at some point. I can see how many people will look at that bank account, burgeoning with money, and think to themselves, "I'll just take a little loan from that and pay it back right away." Of course, we all know that "right away" turns into "soon," and "soon" turns into "some day." Then, before we know it, we have car problems AND no emergency fund.
I'm not going to sit here and insist that everyone should buy a warranty. I'm just saying that I had a good experience. So much so, that when I bought my Forester, I bought the extended warranty. Yes, I know Subaru's rep and I'll probably take a bath on it, but I feel more comfortable and, as a result, I feel better about my car ownership...particularly since my warranty covers the period of time that I've financed plus a little extra.