When I worked for a small bank, we purchased IBM wintel servers
for the most part.  For all servers and important equipment (LTO tape
backup jukeboxes) we purchased extended warranty for as long
as they would sell them with 4 hour response.  It was more cost
effective than service contracts.  On some important equipment we did not
want to replace every 3 years, we did do 4 hour service contracts.

Most others, we kept old compatible machines as spares.

On one RAID array it took IBM over 48 hours to find and get on site
a disk because only 2 sites in the country needed that kind, and it
was on site at the other site (down in the back waters of the
Everglades they said, and we were in Houston.  It took over a day
to get someone to it and to get it back to Miami to be flown to us.
So 4 hours is 4 hours to respond, not to fix.

The bank where I was was especially tight.

When at Amoco in Houston, IBM used our site as a spare parts depot
for many of the mainframes in the area.  We furnished square feet under
IBM security inside our data center, just so when IBM needed it for our
equipment, it would be on site.  I am sure we paid extra for it.  We also
had a full time on-site IBM tech (not a jr. one either).  But with up to 6
now Z-class machines, some expenses are worth it.
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