It's a very personal choice; some find the peace-of-mind worth the price, others do not.
Personally, I'm of the opinion that warranties or insurance are only worth buying on items one cannot afford to readily replace (houses, automobiles, lives, etc.).
Also, some credit card companies will automatically extend manufacturer's warranties by an additional year (if you purchase the item using your credit card, of course). You may want to check to see if your card is one of them; if this was the case, Apple Care might not be worth the price, because you would only be buying one additional year.