Guys,
At the end of the day if you want this game, you will import it. Despite the fact that there is no warranty. Like myself, Wutang and a few others did. The price I paid was around AUD $280 which is certainly less than $400 to $420. The game is unbelievable and I have not regretted the purchase at all. Despite not having warranty.
The world is fast becoming a smaller place and all accessories can be easily imported from overseas. So if anything went wrong and a drum set or guitar broke then you can replace it. Sure it might cost a little more but hey, at $280 for the complete set I still have $140 to play with on accessories and I plan to use that shortly on a frontman guitar.
The set is quite sturdy as it is but lets face it, the instruments are game accessories and not a real guitar or drum kit so you treat it as such. Dont carry on with the drum kit like you are a real drummer and bang the CR?P out of it. I am sure you will be fine.
It has been noted several times that you can use Singstar mics with this game. For those that are looking forard to the singing you could always buy game independently on Ebay and then use your mics. If you like guitar then import a NYKO frontman with it and have an addition guitar for GH3 as well. Import a drum set at a later date, they sell for about US $80.
You can look at acquiring this game in many ways but long story short, you will generally always come up under the proposed price of $420 listed above.