Part of the appeal of craftsman back in the olden days was being able to walk into any sears anywhere with a pile of broken tools and getting them all instantly replaced with no questions asked. They always had an entire inventory of basically every tool craftsman made so you just picked out the replacement tools and went on your way.
Yes you can still get broken craftsman tools replaced at lowes or other places but they don't stock the entire craftsman inventory like sears did so there's almost no chance they will have the right tool to replace it with. So yea they still have the warranty but it's no where near as easy to deal with anymore. Took me 2 weeks to get a craftsman ratchet warrantied recently because no one had it in stock and no one was willing to order it since I wasn't actually buying anything. I was simply told "If it aint on the shelf you're out of luck".
That and craftsmans quality has gone in the crapper since the mid 90's. I still own a ton of craftsman tools but just see no logical reason to buy any new ones when there seems to be way better options now for the same price or less. Kobalt, Sunnex, Gearwrench, Tekton all seem to be making decent tools with good warranties. And if I gotta buy online anyway, why bother with craftsman.