It seems that this Trek Care plus is not your average extended warranty. People have talked about this on some other forums and there are actually some good reviews. Apparently this covers all wear on original components and crash replacement.

From what it looks like, if you are going to put a decent amount of mileage on your new bike and are not going to upgrade the stock components, the Trek Care plus could work out in your favor. Not to mention the added peace of mind about crashes/damage.

Personally, I rarely buy bikes new, and even then I change/upgrade components constantly. So this warranty would be useless to me.
-Bruce