Are CPS Warranties any good on Camera Gear ?

I just purchased a lens from online retailer. I suspect it is grey market as there was no warranty card. When I called them I was assured that I didn't need the card as long as I had the receipt, which is sometimes true, if ..... the item was purchased by a authorized Canon dealer. It was not. Anyways they offered me a 1 year CPS warranty. Anyone use them before ?|||Depends on what it is, the price and what is covers. Is this a year above what Canon gives? It also depends on what lens it is.