The bike itself, Not really. Most of us have gotten our bike for around $7,000 with tax and title included so that's what you should have paid.
So the five year warranty, first service which runs around $200 at 600 miles, and your gear ended up costing you another $1200 - $1300 dollars.
Depending what the extended warranty covers, and how many miles you end up riding a year, and what kind of disrecpencies you will find on your bike during the course of those five years, you will may or may not come out ahead.
Personally, I wish I had purchased the extended warranty. As my Fizzer is my only ride, I log about 13,000 miles a year. I've already had to spend some money getting my bike repaired. No matter how much I paid, I would have come out ahead buying the extended warranty.
Now my roomate bought the extended warranty on his R6, he paid too much just beause he doesn't ride it very much. It just sits in the garage most of the time. I'ts over a year old, and I don't think he even has 3000 miles on the bike.