Kev, the warranty seems pretty comprehensive to me, but it does have two gotchas - just so you know:
1) if the radiator gets clogged (on the outside), they won't replace it under warranty
2) ESA suspension is not covered beyond 30k miles
The radiator WILL get clogged if you don't give it a clean every now and then (see many previous discussions on the forum).
BMW dealers don't do it as part of the service regime.
Once a year is what folks suggest - I managed 4 years before I cleaned mine, but I'll be doing it once a year from now on.
The ESA doesn't seem to fail as regularly as the radiators. Mine is on 36k with no probs, for example, and I don't remember seeing an ESA failure complaint on the forum for a couple of years. Maybe it was only early ESA?
The breakdown recovery is good value too, if you roll that in too - possibly better value than the warranty.