Nonsense is to buy something for just a little less and have no warranty! A fool and his money are soon parted
By that logic, if I go to Best Buy and purchase a Monster Cable and they offer me a $200 warranty on it, I would be a fool not to take it.
Sometimes I buy a camera because I want a camera, not a warranty. Canon's warranty isn't all that great anyway... they'll service the camera only if it needs repair due to a manufacturer defect, and only if the defect occurred within 1 year of purchase. And chances are very good that under these circumstances they'll repair your camera anyway even if you bought it from BigValue or GetItDigital.
So why pay for something you don't want, and you could quite possibly get for free? Only a fool would do that... but as they say, a fool and his money are soon parted.