I have had some of my Craftsman tools over 20 yrs and they were old when I got them. (Mechanic left town and his tool box, I as given everything by he shop owner when he shut his doors in 97). I had a ratchet break a couple of months ago, gears failed, took it to my local independently owned Sears, they replaced it no questions asked. But they did explain, the warranties no longer apply to electric tools or newer Craftman tools produced in Asia.
If you have a Kmart near you going out of business go to their tool section, ours had lots of mis-prices tools some of them off by 80% or more.