They replaced my ST200 with an ST200, but it was brand new. At first I had thought maybe they just replaced the broken tools on the one that I had sent in, but everything on it was obviously new down to the pliers and the frame.
Overall I was impressed with the service, but it wasn't as fantastic for me as others have reported. For one thing, I didn't realize the wire cutters on the ST200 were just little dents, and thought that this was a repair issue--when I talked to a representative on the phone I said the cutters on the pliers were "dented at the bottom" so I would have thought they'd catch that and let me know it was supposed to be that way. Other than that, I had a problem with the locking lever on one side and the serrated blade was completely dull. Their response was, "Are you concerned the locking lever might disengage?" and "You can buy a sharpening kit to sharpen the serrated blade." I wasn't really that thrilled with those responses, but they still took it in and replaced it so I'm at least surprised and satisfied by that outcome--I thought they were gonna tell me tough luck.
It was a gift to me though so it's still awesome of them to even warranty it at all, especially since the previous owner had abused it.