I finally decided on an Epiphone Les Paul for my first electric, and the local music shop has them for $500. I've found that I can get the same guitar NIB from eBay for about $350 + S/H from a reputable seller, but its my understanding  that Epiphone's warranty only applies to guitars purchased from authorized dealers. So, is the warranty worth the extra $100-$150? What kind of things could need repair (besides strings) on a well-cared for guitar?

Nate

Me my own self, I would buy secondhand. Never depended/needed on a waratee when I bought new.

Epiphones are decent goods.

I bought an Epi SG from ebay and when I got I discovered the truss rod was screwed up. The seller exchanged it for me but I was out the return shipping. Still got a good price and the replacement has been great. I have heard about switch problems on the Epiphones but mine has been OK so far. Its about a year old now.

Depends on what condition the guitar is in - if it was taken care of and not beat on, then you shouldn't need a warranty. Things to look for would be electronics and whether or not the pots/switchjacks are crackly, making sure the neck relief is OK (truss rod), making sure that the frets are good and that the guitar hasn't been left in a dry place where the fingerboard shrinks and the frets poke through the neck binding (if there is any) and make sure the tuners are good.  If those things look good, then I'd be pretty confident about the guitar.

Cool. All the ones I'm looking at are new, but sold by (I assume) unlicensed dealers.

I've been playing guitar for 18 years and I have never used a warranty for any of the many guitars I have owned.  I wouldn't worry about it.

Having said that, buying anything from ebay can be risky simply because you have no idea what condition the instrument may be in when you receive it and you have little to no recourse if it is in poor condition.