"So there really is no rational basis on which to decide whether to buy an extended warranty, save for the possibility that it may be worth the peace of mind".
Well Mark, it becomes extremely rational when one has experienced a situation that I found myself in with the NEW 9900 in 2010. Within the initial one year warranty period the printer had two print heads as well as other parts replaced by D1. Near the end of the year it was obvious that the situation had not been completely take care of. Therefore, since the printer was the centre piece of my business I dropped another $1250.00 to extend the warranty to the max. Yes indeed it was an insurance policy and I advised others here on LuLa to think about doing the same if they experienced issues with the same sort of consistency as I had. That was probably the best decision I made for that printer. I just revisited my SP9900 Issue Log that I started a month after putting the 9900 into operation. Thirteen full pages in Word and 105 entries, all dated and containing very specific information concerning the current issue(s) and how it had been approached by Epson and D1. When Mark N. installed a new print head on the 9900 in Jan. 2016 we had a very interesting conversation about that and he passed along a couple of other remember-able situations he had experienced.
When I bought the P7000 I did entertain the notion of extending the warranty, but since I had moved my business to my home location I knew that printer would probably not be a big part of my business, so I declined the urge to extend. I do occasionally somewhat regret that decision, but I've never encountered an Issue that I couldn't fix with minimal effort.
My only reason for my reply to the OP was to pass along a bit of advice from my own experience and hope it might fit his situation. However, I do believe it is the sort of advice that would fit most situations of this sort with any corporation. NEVER GIVE UP! But of course as in many cases, there is a point when one must weigh all of the odds and perhaps succumb to the inevitable, which might mean investing more money into an extended warranty and be able to sleep at night.