Michael
Torque Titan
Apple have excellent return policy and warranty policy. If anything fundamental is wrong with you device then they will replace it, no questions asked.
I want to agree with you, and you are somewhat right, but not entirely.
Apple has a set of parameters that you must be within in order for them to give you a replacement. Certain documents have been leaked where it shows that if a computer monitor has a dead pixel, they will not replace it unless there is more than one. I think a concentration of at least 5 has to be present in one particular area. The same applies to iphones, ipods, laptops, and the ipad.
They have been exchanging ipads, but there are many people that have not been so lucky in getting a replacement ipad that exhibits the problems.


