Concerns about Canon refurbished cameras?

I just got an email from Canon advertising 20% off of refurbished Powershot cameras. It states only a 90-day warranty for refurbished products. I'm looking at getting the S95 which would be $272 total (includes S&H) - about a $130 savings off Amazon's price for a new model.

Has anyone purchased a refurbished camera directly from Canon? If so, what was your experience with it?

I don't want to buy refurbished if these cameras are 'abused' returns or cameras that have been repaired but cannot be sold as new and then will fail in 6-12 months out-of-warranty.