Yeah my experience with Futureshops warranty coverage sucked and our camera was actually replaced/reapaired twice without too much complaint. The second time is why I'd never recomend extended warranty coverage. It refused to turn on one day and it would have been outside the manufacturer's warranty. We took it into future shop and they agreed to send it out for repair, it was all handled without too much difficulty. However it was more than 3 bloody months later before we saw our camera again.
Is the failed device something you actually use? Do you want to go/ can you live without it for 3 months?
Save the cost of the extended warranty and just buy a better/newer replacement for immediate use on the extremely rare occasions where the warranties might actuallly be used.
I didn't purchase the warranty above myself and in fact I've only ever bought one which I was delighted with (even if I never use it). From a repair/refurbishment center for Sony they offered a 5 year extended warranty on my PS3, the $50 extended warranty also included 3 brand new games (from a choice of around 50, I took Drake3 and GoW3 plus something else) and a second brand new controller.
Most extended warranties suck and are just a very nice extra profit for the store, the only time I've ever personally seen one used the experience was so slow I would much rather not have had the warranty at all, I felt obliged to make use of it when it would have been better to just replace the device.