Yes. Apple will cover the nvidia/logic board issue for two years after your initial purchase. Applecare will cover all defects for three years after purchase.
It is ALWAYS advisable to get applecare on ANY apple product. Especially a portable. Period.
Im not sure to buy another applecare, after all for mbp, the applecare cost the same than a netbook and i think its worth to have a "backup notebook" just in case.