Buying gray market cameras?

i found a hv40 on ebay for 440 dollars brand new factory sealed box. However i know it is a gray market camera without canons warranty. Is there any difference inbetween the actual make of the cameras or anything i should worry about. I mean for basically 400 dollars more i could get one with a warranty. OR if this one breaks i could buy another.. what do you guys think of graymarket items?
 
If it breaks, you cant do anything about it. That alone would make me not want it. You never know, when spending that much money I would feel better knowing I have a warranty, ect.
But then again it could work just fine and you would never know...its a tough one...
 
grey market photo equipment is the same quality and everything as regular photo equipment, you just don't get the warranty. so it's just your decision.
 
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