I have Square Trade coverage on my iPad 2 and used it when the screen shattered after it fell off of a counter (with a sickening "thud!", I might add). At the time I bought it Applecare cost $129 for ONE year and did not cover accidental damage, vs. $79 for Square Trade.
They offered me a choice of sending me a mailer and having them repair or replace it, or taking it to my local Apple store and getting reimbursed. I took it in to Apple the next day and walked out with a brand new one. Square Trade sent me a check in less than 2 weeks. At the time, it was a no-brainer, and ST's service could not have been better. Now that Apple has dropped the price and increased the coverage it is not as easy a decision.
