It just isn't worth it to me. Just look at the math.
I've had at least one leased receiver since Feb, 2007.
In that time I've had to have a leased receiver replaced twice. Both times I was of course charged the $19.95 shipping fee. So it has cost me a total of roughly $40 in just over 6 years. Under $7 a year.
If I had been paying for the protection plan over that same period I would be out hundreds of dollars.
In fact I would think you would have to have an awful lot of problems for the PP to pay off over the long haul. If I was having those kind of consistent problems to where paying nearly $75 a year (about to become nearly $100 a year) represented a savings over several years I would not be with DirecTV any longer.
Its not that simple for eveyone. With having 4 of my DVR's owned, I can recoup some of the money if I need to go to another provider down the road because I have owned equipment that gets swapped for owned under the PP. I started with a HR20 and 2 D12's. Then when my markets locals launced I had a free upgrade to all MPEG 4 equipment. Later purchased some HR20's and R22's. Over time several of those were upgraded to HR24's. I have zero HR20's on my account and only 1 R22 now. To get a 15 tuner setup with Dish would cose me over $1,000 up front. For me I would rather not be under contract so I am free to leave when ever I chose and also have my owned equipment (investment) protected by paying for the protection plan.