Like may of you, I find Craftsman’s “lifetime satisfaction guaranteed” warranty policy to be hugely influential when shopping for new tools. I’ve heard of cases where obviously abused tools were not replaced, but there are also other exclusions to be aware of. For example, certain cutting tools are considered consumables and are not eligible for replacement.
You might be able to get around some of these exclusions, but that likely depends on the mood, authority and warranty awareness of the Sears associate you deal with.
You can find Craftsman’s full warranty policy on their webpage. Just in case the warranty terms and conditions are taken down or are grossly modified, we’ve copied them to the second page of this for future reference.