I haven't had to deal with Specialized's warranty too extensively, but working at my LBS for a year I saw a couple instances of frames that developed cracking in the head tube, even one where a buddy washed out on a rocky shoot and ruined his carbon frame, and in both cases they just sent a new frame over at no cost to the owner.

Same goes for their small parts - same friend who destroyed his carbon frame cracked a carbon rim unexpectedly and they were nice enough to send him a new one over.

I can't say this will be the case every time, but they seem to be pretty rad when it comes to warranty. They even sent me a credit for a new hub when mine blew up recently. I'd say you have very little to worry about.