I recently had the fraying issue with my L-shaped adapter.
My macbook pro is 2 years out of warranty come April 2013.
I went to the Apple store and was told that it wasn't covered and would have to purchase a new magsafe charger.
I tried calling Apple support and I was told the same thing.
I feel this issue is not my fault and I should not be responsible for replacing the magsafe charger. They should let customers know about this expected recurring cost for this RECURRING ISSUE when they sell the Macbook Pro products. The senior representative I spoke to on the phone even admitted that the cords will eventually fray due to stress, and that they changed the style from T-shape to L-shape to prolong the issue. I guess to prolong it happening until enough time has passed after your warranty ends, that they won't feel guilty about not replacing it.
I also had the same fraying issue on my T-shaped adapter when I had my black Macbook a few years ago. It was out of warranty but they replaced it with no problem at all. (I suppose because of the recall that was mentioned earlier in the thread). One of my iOS USB cables frayed as well.
Needless to say, I'm very disappointed with Apple. They tried to tell me that it's unfair to warranted users if they replaced my faulty part for free. I don't think it's relevant since I took care of my product as I was supposed to and the issue still presented itself. It seems that Apple is knowingly selling this faulty part without letting buyers know this fraying issue WILL eventually happen - even with proper maintenance. If anything, it's unfair to all the buyers who are not made aware of the fraying issue at the point of sale.
I am a graduate student and I don't have money to keep throwing at Apple for hardware issues that are clearly the fault of the manufacturer. I have since ordered a different branded (and more reasonably-priced) magsafe knockoff and I most likely will not be investing any more funds into any of Apple's devices.
I regret ever investing in Apple's Time Capsule, Macbook/Macbook Pro, iPhone, iPhone 3g, iPhone 3gs, iPhone 4, iPhone 4s, iPad, and accessories. Basically, I have little respect for companies who fail to stand behind their products and their defects (at their fault) just because of a warranty or lackthereof.