AppleCare covers almost nothing. Any cosmetic thing they can find "out of warranty". And 3 years is not a lot for a machine that can cost up to $10k. Besides, they erase your data and it often takes weeks to fix (or even 1,5 months in case of my Macbook). They require you to give up your password (a nuisance to say the least if it doesn't boot at all to change it). And besides, there are a lot of places on earth where there is no certified Apple Dealer without a substantial drive or even flight. It just bugs me that a consumer electronic vendors have aggressively started implementing a model where it's no longer /your/ machine. You rent it, and with the flick of a switch they can brick it or decide to no longer support it. This icks me particularly because it's labeled a "Pro" machine.
Maybe it’s different in Europe. But I’ve had nothing but bad experiences with AppleCare. Except maybe for that time where they replaced a charger free of charge that literally caught fire.