Certified Platinum Extended Warranty: worth it?

[Hamster]

On June 1, I will have reached the three year point of ownership of my Yaris. At the time of this writing, my car has almost 12,000 miles, the majority of which are highway miles. Apart from standard maintenance items, I have not needed anything serviced on this car. Since I feel like I really haven't driven the car enough to break anything, I decided to swing by the dealership to ask about extended warranties. The finance guy discussed the Certified Platinum Warranty with me. It's a bumper-to-bumper warranty that will cover the car up till when it's 7 years/100,000 miles old. I'm sure many other people here have looked at this warranty and considered it. It'll cost $1,724, which, of course, is a lot of money. When I finance guy was discussing it, it sounded like a great deal. However, the more I think about it, the more I feel uneasy about it. For one thing, there's a huge opportunity cost in tying up that much money on the gamble that something will go wrong in the next four years. In addition, years down the road, the line between what is wear-and-tear and what is something that's actually broken can be kind of fuzzy. I'd be afraid that the dealerships and/or the manufacturer will use this fuzziness to deny my use of the warranty.

So, my question is, do you guys think it's worth it? I'm guessing no, but does anything think that this is something I shouldn't pass up? For the record, I own my Yaris outright, and I intend on keeping it forever. And based on this forum, it appears that very little can go wrong with this car anyway. Seems to me that the main problem that appears with this car is failure of the water pump. But that's considered part of the powertrain, and the factory powertrain warranty is good for five years (so, not something I need to take into account when considering this warranty).