While the PS3 hasn't been plagued by RROD levels of system failures, it is still vulnerable to its own share of problems, most notably the "yellow light of death." Should your system experience an irrecoverable crash after Sony's official one-year warranty, there isn't much you can do except send the system to Sony for repair -- a process that carries a hefty price tag of $150, plus shipping costs.

Sony has announced an alternative solution: the PlayStation Protection Plan, which allows new PS3 and PSP owners currently covered by the standard warranty to purchase additional coverage. According to SCEA's VP of operations, Glenn Nash, the PlayStation Protection Plan was created for "consumers looking for added peace of mind ... interested in an extended service plan that's backed directly by SCEA and leverages our technical expertise." However, while Nash touts Sony's reputation for "the highest quality in engineering and design," Sony is charging a sizable sum for the extended warranty to protect all that high-quality engineering -- especially compared to Microsoft's no-cost three-year warranty for RROD-related damages.

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[source: Joystiq]

Having had my PS3 bite it already and paying the $150 or $180 (taxes) .. this might be an okay plan to consider. $60 bucks for a 2 year plan doesn't sound too bad.

What do the rest of you guys think? .. Oh and after Sony fixed my PS3 (very well I might add) the warranty on that work only lasted for 90 days.

I think if your warranty runs out on a piece of electronics, it's not a bad idea to extend it through a plan.

Just wish they weren't so douchey in the way they described it. Made it sound like their stuff was so good, you wouldn't need this plan they came up with. lol

Yeah Sony pulls no punches when their telling consumers how great they feel their products are. I never had to consider buying extended warranties before but it was only till a few years ago I was able to afford things new ... or worth keeping.

Is there a way to get a new warranty when it runs out? I've asked microsoft and sony... and heres their responses:

Microsoft "Not at this moment but we wil try to get things like that straightened out. Have a good day".

Sony "No, not yet... we will get back to you on that".

I would really like to know, I do not want to have to spend $180 to fix my ps3, even though i could fix it myself by voiding any future repairs... My Xbox is holding up fine considering i install all my games now.

You're pretty much stuck. All the best plans, are offered when you buy them new.

thats just great, they both leave me flopping around in the water, well i guess i have to spend the summer working on my ps3 my self without making it look like i beat it up with a hammer. If it doesnt work, i gues ill buy another one.