Craftsman Warranty is actually redeemable at Lowes! (with a little qualification: so long as the have the same item in stock, but it does not have to have the identical part number)
I had a Craftsman 10mm wrench, 7/16" socket, 3/16" allen (3/8" drive), and an 80 tooth ratchet that were broken and needed replacement. Went to Customer Service desk at Lowes, lady said go find the replacement on the shelf and bring it back. They had everything except the ratchet. The wrench and one of the sockets was a variation in part number, but it was no issue. She punched some stuff into the computer, and a couple minutes later I was on my way.
I was pleasantly surprised to see the newer wrench (bottom) was broached on center and did not have a tremendous amount of excess casting.
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(Sorry for the crappy pic, my phone apparently was more interested in the trashcan below the table instead of the objects in the center foreground of the picture or the large flat table surface
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Once I got back to the office, I snapped a couple pics of the broken ratchet and emailed them to Craftsman customer support.
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That was on Monday, Wednesday I had an email back from them, Thursday I had a shipping notification, and couple days later I had a brand new 120tooth polished ratchet!
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Since I still had the old ratchet, and I really liked the feel of it, I went to ebay and bought a rebuild kit for $14. Woohoo!
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So if you have Craftsman stuff, Lowes will warranty it, if they stock it, and Craftsman will warranty it if Lowes doesn't!