I'm be no means any kind of expert, but I have used fire extinguishers a few times and worked jobs where they were always around. I put out a fire in an old couch started by a cigarette butt- it was Super Bowl Sunday several years ago and we were all blind drunk. We went outside for a smoke break to find small flames licking the edges of our porch couch. One of the guys ran to the kitchen, filled a bowl with water, ran back and dumped it on the couch with no effect, and ran back to the kitchen to refill his bowl. I hosed the couch down with dry chem and solved the problem.
I used to work summers on a farm in eastern Washington, so we'd always have fire extinguishers available. Dryland wheat stubble will burn like it's been soaked in gasoline if something hot (like parking brake lining) gets in it while the wind is blowing. The trucks all carried pressurized water extinguishers, which are only class A and will only put out dry burning material, not fuel, rubber, or electrical fires. They could squirt pretty far- a few dozen yards- but weren't large enough to do any good for anything larger than a square foot or two. The combines all carried ABC dry chem extinguishers in addition to the A water ones. A practice we all followed, which was repeated in a farm implement safety class I took (from a guy with three fingers on his left hand

), was to always turn the extinguisher upside down and smack it on a tire or something to unclog the nozzle before giving a test squirt and a full blast. The vibration from being on the combine fourteen hours a day would apparently plug up the nozzle and prevent any chem being shot when you needed it.
Since no one has mentioned it yet, the following info might prove useful. There are three classes of fire extinguishing agents:
A- IME, water. Only good for putting out fires in paper, wood, rubbish, and other dry combustible material.
B- Will also work on burning liquids, i.e. gasoline etc.
C- Will also work on electrical fires.
I think everyone should have an ABC extinguisher in the kitchen, on every floor of the house, anywhere combustible materials are stored (garage), and in every vehicle. Better safe than sorry.
Hopefully someone more knowledgable can provide more information.
Jeremy
Edit- the implement safety class included practice with A and ABC extinguishers- putting out a wood fire and gas/diesel in a 55-gal. drum. We also practiced occasionally on the farm with the A extinguishers (they made good squirt guns

). Of course we refilled them immediately after our practice or horsing around.