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Yep, it's one of those things.
I know my craftsman (made in china, unfortunately) multimeter doesn't have the full lifetime warranty and I'm sure there are plenty of other things that don't. Like, say, a tap / die set.
I have a decent amount of tools that are craftsman, however, I've become more picky about which ones I'm buying in the future....
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1982 240D, sold 9/17/2008
1987 300D TurboW124.133 - 603.960, 722.317 - Smoke Silver Metallic / Medium Red (702/177), acquired 8/15/2009
262,715 and counting 
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