Well, obviously, we haven't gotten to two years yet, so we really don't know what will happen after that. Just because many people have experienced this just after a year doesn't meant that there won't be even more people experiencing it after two years. GPUs shouldn't fail for many many years, long beyond the productive life of the computer as a whole. Apple extended the warranty coverage for the logic boards of the Powerbook 5300/190 series to 7 years because of various defects -- that's reasonable. If the GPU fails after three years and everything else is working perfectly, why should I have to pay for it when I know that it's because of an inherent fault that was there when I bought the machine? This is not a warranty issue. It's a production defect that should be fixed by Apple whenever it causes trouble, even if it's outside of warranty.
I don't quite understand how anybody could be happy with a one year extension when the defect is so serious. We paid a lot for these machines. If they really only fail within the first two years of use, then Apple shouldn't worry about extending it for 3-4 years since there would be no claims anyway. Above all, extending the coverage of the GPU defect for the normal life of the product is about goodwill and restoring confidence in their products. Apple and Nvidia ****ed up with this one (mostly Nvidia), and customers should not shoulder ANY of the cost of that beyond the already considerable inconvenience of having to send it in for repair.