eBay = Home lab bonanza
The only way I would even think of doing production junk box networking would be if so much redundancy were designed in that it wouldn't matter if you had warranty support or not. VM host blows up, oh well, at least the VM is safe and running on another host...
Company labs and home labs are a totally different story. Even without the dotcom bankruptcy sales (which were awesome back in the day) there is so much equipment being refurb'd or sold off-lease that's like new. I have a Cisco 3750G switch and a very well-licensed ASA5510 that I paid a few hundred apiece for -- easily would have been $5k even with discounts. One of the big things that I'm predicting will be up for sale more often soon is IBM System x boxes -- as customers decide they want to upgrade early to avoid the slow IBM death spiral re: support.
Anyone who's done IT work in large corporations knows that every project has "spare" hardware that somehow makes its way onto the eBay market, new-in-box, never powered on or installed. I've bought a lot of dubious-origin servers for the home lab that way. And since lots of companies lease their equipment, it winds up on eBay anyway with resellers trying to shift it.