Absolutely get Applecare. I had to send my Macbook Pro in four times for various issues (it was obviously a lemon), and on the fifth I demanded a replacement and got one! (They sent me a brand new model for free- a significant upgrade from my old one.) They even let you customize your replacement... they asked me what all I wanted to upgrade, if I wanted the glossy or matte screen, etc.
I think the plan covers pretty much any hardware defect, provided you weren't abusing the computer.
The repair process works like this: You call them, they overnight you an empty box, put your Macbook in it, and send it back. They'll generally fix it the day after they get it and then ship it right back to you. I don't think I was ever without my computer for more than a week.