1. Best Buy Will honor the warranty for 1 year, if it breaks for some reason, they will fix it...
2. Contrary to popular belief... Best Buys warranties are far more comprehensive than many manufacturers including Apple... They have accidental... I have seen 4 uMBP's that were dropped and after a week or two the customer was able to come back in and pick up a new shiny uMBP because BB's service center does not have access to the Unibody replacement parts. The damage has to be more than cosmetic though... they're not going to replace the machine if it's a tiny dent or scratch.
2b. Yeah, you don't get the extended phone support... but I've NEVER used it on the 3 Apple Care Purchases I have made... I have called Apple Support once, and that was when my local Apple store refused to fix my MBP (GeForce 8600M) that had no video and was one of the affected on the recall. That's another story which has a happy ending but I will never set foot in the Apple Store in Bayshore Wisconsin....
(disclaimer: I work for BB... and I can't vouch for some idiots that try to screw customers, but if they follow policy... then you will be taken care of)