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I just went through the same debate (with myself). Dealer wanted 2100$ for a 6yr/72k mile extended warranty (platinum). However, I looked at the exclusion list, which was long and distinguished (much like my Johnson), and noticed that basically everything made by Lotus (with the possible exception of electronics, though it was indescript) wasn't covered, and everything made by Toyota (powertrain) was. Given that I can rebuild a 2ZZ and transmission, on the crazy offchance that I nuke the powertrain anytime soon, for less than 2100$, I decided to take the gamble myself. Also, since it's fairly obviously built out for autox (exhaust, $$$ shocks, bar) it's unlikely they'd agree to do the warranty anyway upon inspection.
So, I took the car out and drove past 10k miles (when the prices for the extended warranty jump up an echelon). I've got a garage full of tools for a reason. However, if you're not like me, then it's far more reasonable to pick up a warranty. I don't know many people who would be just fine pulling their engine and rebuilding it. For them it would cost far MORE than 2100$ so the warranty makes sense.
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2006 Lotus Elise - SS Autocross
2006 Mazda RX-8 - For Sale! Buy me!
1992 Mazda Miata - Spec Miata Club Racer
1994 Mazda Miata - DD when I'm scared to take the Elise out
1994 GMC Suburban - Gets the Miata and Elise to their respective tracks
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