Finally came to a more reasonable solution, though it is disappointing that it took so much initiative on my part to get Best Buy to resolve this. I was given an additional store credit to help purchase a Sony camera. Though I will now have to wait to purchase the camera since it is now out of stock, it is acceptable since I had already factored in Best Buy's slow response time and purchased a replacement A700 on Ebay. You would think with Best Buy as a technology retailer in these fast paced times would appreciate a customers urgency in matters as such. With store credit I plan to purchase an Sony A65 or A77 (if Best Buy decides to sell the latter), and the warranty will be purchased from the manufacturer.
Thanks Allan for your help, hopefully Best Buy can bring about changes to the warranty policies that allow DSLR owners satisfaction.