I actually just had my 2006 2.16 macbook pro replaced after two screen replacements, enclosure replacement, and an i/o replacement. They were going to have to next replace the logic board and just decided to give me a new one. This was all in the period of about two months and I had been working with the same people at my local apple store each time I had an issue.
From my recent experience, they will give you a new equivalent model. My old one was the high end model at the time with BTO options (bigger hard drive, extra RAM), I got the current high end model with an upgraded 3.06 processor and 7200 RPM hard drive for free.
They will certainly give you a replacement, but it will take awhile and several legitimate failures of your current machine.
From my recent experience, they will give you a new equivalent model. My old one was the high end model at the time with BTO options (bigger hard drive, extra RAM), I got the current high end model with an upgraded 3.06 processor and 7200 RPM hard drive for free.
They will certainly give you a replacement, but it will take awhile and several legitimate failures of your current machine.