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Well, I know that Compaq used refurbished parts in their computers. Their take on it was "as long as it's under warranty it'd be replaced free". Of course this means that once it goes out of warranty your parts would die faster.
tenchi069 is probably right about the IBM/Dell agreement. If not then Dell is starting the decline sooner than I thought. Like Prince was saying, I've never had a HD die on me sooner than 3-4 years. Although there's always the chance that it'll happen.
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"Empirically observed covariation is a necessary but not sufficient condition for causality" - Edward Tufte
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