Yes, fisheye pictures need correction for distortion if you have straight edges in them (but that's why you shoot digital, right?) If you just have a big fish and some blue, no problem.
I don't know about referbs. It just give me the heebeejeevies. In my mind I find it hard to imagine being able to check electronic components to see how close they are to failure (one capacitor or resistor looks pretty much like another, and once one fails, how many more will go / were attached poorly, got a shortened life span from whatever cause the part that needs refurbusing died, etc.)
Dan