I was on the fence about it, and just recently decided to buy the 4 year GTPP. Kawi advertises it for almost $700. A phone call to one dealer in Colorado found in an ebay listing offered it to me (I'm in CA) for $349. I brought that offer to my local dealer (with whom I have developed a relationship) and they gave me a price close to that.
I figure for the cost of about 4 hours of labor, spread over 4 years, it gives me added piece of mind at an acceptable price. Yes, this is a way for dealers and Kawi to make easy money. I also like the resale bonus. I also do lots of my own maintenance (which is allowable in the warranty) so I figure I save myself a bunch of money there. It all comes out in the wash as far as I see it.
2011 Imperial Red
Givi V46 / V35's SW Motech mounts
Skidmarx hugger Moto Werks bar riser
Mondo Motors LED Driving Lights
A little bit of road rash