The same thing happened to me too this last Christmas. Luckily I have a few months left on my Applecare and they replaced the logic board at no cost. Just like somebody posted earlier, the one I'm currently using was actually given to me free when my 08 unibody had problems. I've had pretty good luck with AppleCare the last few years, but when this one gives out, I'll probably get my next laptop at Best Buy and get their Geek Squad Protection because it covers accidents as well.
As far as reliability goes, when I upgraded to a MBP, I gave my sister my Core 2 Duo blackbook, and it's running like a champ thanks to a recent SSD upgrade.