Extended warranty good idea or not?

My 2006 Volvo 2.5T has been a gem as long as I've had it - no repairs needed. Just a wonderful car in my experience.  Should I expect it to fall apart like the one-horse shay after its 4-year warranty is up next month?  
  I read advice NOT to buy extended warranties but know too that if and when the Volvo needs anything, that anything is likely to be expensive.  It has 44K miles now; the dealer offers a "7 year -
84K mile warranty," which is actually a 3-year 40K warranty since the other 4 years and 44K miles are already in the past.  The warranty is on sale through Saturday for 25% off, for a total of only $2500.
The language alone made me feel less than good about buying this product.  I can support one $1200 repair and two $600 repairs in the next three years and come out even -- with the chance that I won't need so many repairs, in which case 'I win'.  Conversely, if the car falls apart, I lose.  I don't like buying 'peace of mind,' suppporting our cultural bias toward cowardice, with a major effort  always being made by someone with an interest in having us so, trying to frighten us about EVERY thing.
  Oh, yes, and there is a $50 deductible for every repair.  I guess I've talked myself out of the extended warranty, but will still be interested in anything the Gurus think.
  Thank you.
Harry A