Gamble ?
 

Are you a risk taker ? I dont actually gamble much but I may be a risk taker. I bought my Cayman 5 years ago and was offered a pretty good 5 year warranty for about $3600. I took a calculated risk and passed on it. Well after the only thing that warranty may have covered failing was the water pump. I feel like I gambled and won. Less than $500 and the pump was fixed.
So, would you take the warranty or take the risk ?

Depends on the car and its age. Porsche's are fairly reliable, at least according to the latest reports. But an older used model would make me consider a CPO option pretty strongly.

Taking calculated risks and gambling are worlds apart.

Does the warranty company take a risk? Yes. Over time, hopefully, it pays. It would have paid them in your situation.

I have never purchased extended warranties. No regrets.

With the possibility of an IMS failure on an 08 3.4, I feel like it is a gamble. A failure can be $10k or more.

Bought a high mile 03 996 and drove it 45K miles with no warranty. Replaced the suspension, tires (2x), which are wear items but also an engine out AOS replacement with all new hoses and clamps to $2K. Sold it at 160K miles and was running fine. I am not a gambler (Vegas) but do have faith in my observations and the Porsche brand. Another IMS catastrophe that did not occur.