I bought a CPO 2000 Boxster S with 40 000 miles from a Porsche dealership in Virginia in November 2007 for only 22 000$.
The warranty is good for 2 years (November 2009) or 100 000 miles and covers engine, transmission-differential, electronic stuff and some suspension components.
I have already brought my car 5 times to Porsche and about 2500$ worth of parts-labor have been covered under warranty already. Plus when you buy a CPO car from Porsche they do a whole bunch of part replacements and maintenance.
I got unlucky with my car because it had quite a few problems though...I'm really glad I had a warranty!
If you wait until October when convertible prices go wayyyyyyy down, you can find yourself a 2001 Boxster S with a CPO extended Porsche warranty for the same price I paid mine last year.
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