Yes, but dont forget that the small print requires you to have a full dealer service prior to the commencement of said warranty.
That will be another £300 please.... Not so cheap after all.
It doesn't say that at all...
What it does say is that the bike should have been serviced in accordance with the manufuacturer's guidelines. This would, I assume, have been done anyway, as the owner would have wanted to preserve the original warranty of two years that came with the new bike? So you are, perhaps, no better or worse off, than you would have been, anyway? It doesn't say anything about when the service(s) are made, or what type of services they are. For all the difference it makes it can have done just 600 miles in two years (one free service) or 24,000 and four services. It simply says that the bike must have been serviced, by BuMW, as required, book stamped etc. etc.
Of course, one could claim that a good independent, using BuMW parts, could do quite as good a job and not invalidate the warranty one jot. But that would require you to get into a lengthy debate with BuMW about the merits of your chum's skills, versus BuMW's oil monkeys.
Thereafter, not surprisingly, BuMW ask that they continue to service the bike, just as they did before it was two years old. Just as they did when the scheme was £600 and, chances are, just as a third party (non-BuMW badged) warranty insurer would require you to do.
Of course you can stick two fingers up at the original warranty, BuMW service from day one and any extended warranty at all. That's consumer choice, nothing more.