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It sounds like you just have a common issue where the oven igniter is getting weak and needs to be replaced. The igniter is about $50 for the part and mounted to the bake burner below the floor inside the oven. The igniters usually last about 7-8 years before they get to weak to draw 3.2 amps and then the gas valve may not open completely or if it does open it may not ignite properly. It's up to you if you want to put the unit under the contract or not but I think you just need a new igniter which would be less than the service contract. As for how long ovens last, usually 15 years or so before you run into bigger issues than something like this.
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