As everyone has already pointed out extended warranties are a scam and you shouldn't let yourself be pressured by a salesman to get one. I've bought numerous high end electronics over the years, never got the extended warranty and have never had anything break before the expected life of the item.
One thing that wasn't really mentioned was the scam those expensive " Monster " cables and surge protectors are. These are also sold to make you believe you are getting a superior product which isn't true. They are WAY over priced.
I use this website below to get all by stuff. I got 4 HDMI cables of various lengths shipped to my house for less than 1 6' HDMI cable at Target or Walmart. I could've added a wall mount for my plasma and still would have spent less that the cost of ONE Monster HDMI cable at a place like Best Buy.
http://www.monoprice.com/home/index.asp
So my advise to the OP is keep the TVs but cancel the extended warranty, cables and surge protector.