I'm with you Cowboy. The dealer offered to make the lifetime warranty a full bumper-to-bumper for around $3,000. I have purchased the extended warranties on previous cars just to cover major stuff such as the tranny or engine.
I figured that since they were already covered under the lifetime warranty, I could save the $3,000 and use if for those smaller things that might come up.
I have also found that the extended warranties tend to have more things they don't cover and what they actually do cover.