ya... applecare is worth it if you think you could possibly get a defective iphone or have manufacturer derived issues from it.
I have heard it sold to customers as an insurance type plan which is absolutely not true (we all know this) but AT&T reps and customers misunderstand the plan itself and don't read the fine print when they get it
Working in a call center and getting a call from a customer who dropped their iphone and it cracked or got water on it, you have to let them know "No, that thing you paid $69 for was not an insurance protection plan.... No you cannot get a new iphone at a reduced price, you can get an early upgrade though!" people don't like to hear that
They felt they were mislead of misinformed or weren't given the best information about what the AppleCare really is.
It is a great value, you get all the support you need in 2 years from apple but hey... you can find a lot of answers to things here and you avoid calling in.
It just depends on how much you value being able to take your phone in and get it exchanged if necessary or if its Apple's fault as to why your phone is not working as it should....