It's not a warranty at all, it's not even called or considered a warranty, it is called a PRP or Product Replacement Plan. It's not meant to be a service contract or extended warranty, it's just like what EB or Gamestop offers, if the system fails, it's a one way ticket to a hassle free replacement, you can even just call and get a voucher for whatever the PRP is for, and it doesn't degrade in value. Meaning, if you buy your PS3 today, and it fails 18 months from now, and the cost of the PS3 has dropped to say 500 bucks, your PRP still is worth the original 600, so you can exchange your PS3, get a brand new 60 gig for 500, get a brand new PRP for 70 or 80 or whatever, and walk out of the store with a 20 dollar gift card on top of that, all because of the PRP, so it does have it's advantages.Â
 I did that with my PS2, I bought one at launch, with a PRP, I had 2 failures and I made 2 up to get replacements, but I got 3 new systems, and PRPs, and 110 bucks in store credit when they went from 300 bucks to 180 several years ago, and I got a voucher for 150 bucks from my last one towards the PS3, and I never spent one dime after my original investment. So if you know how to use them, people **** that they are a rip off, but PRPs are fantastic if you take advantage of them. They never check either, so if you make up a believable problem, you can always just exchange it or get credit.Â
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