SquareTrade all the way!
I just got a New iPad, and for $110 after getting a coupon from Facebook, I now have a 3-year accidental damage warranty, with NO deductible (I paid like $10 extra to not have one).
I personally have not had to make a claim with them, but I know several who have and I have heard nothing but an easy, great experience. And it also looks like way less exclusions than AppleCare+, and no $49 deductible/service charge.
On top of all of that, you can still get it serviced at an Apple Store.
Apple's extended stuff gave me a bad taste in my mouth when they tried to sell me the $79 thing for my phone - which basically just extended their manufacturers warranty. So the product is covered from their defects for two years. They should cover it for two years anyway, LOL.
I hadn't heard of AppleCare+ until this thread, and when I went to the website I was very glad that I chose SquareTrade - if anything happens to my iPad (aside from theft/loss, which my regular insurance covers), for the next THREE years, I get it fixed or replaced. That piece of mind was certainly worth $110, and their reputation cannot be beat (as opposed to Apple, who I hear horror stories about - something flips your "submerged" trip, even if it wasn't submerged, and you are SOL - SquareTrade doesn't pull that stuff).