Biggest problem with warranties is how tight costs are, pricing sells as most people think little about RMA in advance. Also the 7200rpm technology is more prone to both heat and failure so I think that's another big factor in switching to 1 year. 1 year does suck so IMHO spend that little more in the first place to get a 3 year model.
I can vouch for Maxtor's RMA service too, it is prompt but IIRC there is a lot of info to fill in and it is a pain in the a$$ to have to ship to Rep Ireland as it more than doubles the postage. Still it is quick and I got a 60GB 5400rpm replaced with an 80GB 7200rpm so needless to say I'm happy over all.