First of all we bought our tires less then a year ago in February 2009, and we purchased high performance racing tires for about $130 apiece. We had two warranties on each tire, the automatic 50,000 mile warranty and the purchased Wear and Tear for $19.99 each tire.
We ended up getting a nail in our tire and they originally wanted to charge us $67 and we got them to lower the price to $47. I asked the guy why we have to pay anything if we have two warranties and he blamed it on "missing tread" but obviously these tires are *** if we bought them that recently and there is already missing tread. So obviously if your tires are more then six months old you can't take them back.
So definitely don't bother with the warranties. I want my money back for the warranties at least.