The vast majority of parts that Apple ships to repair centers are what they consider “re-manufactured.” As a Genius, I was coached to explain that process when we were asked where the parts came from. Customers would always respond with, “Wait, so you’re giving me a refurbished iPhone?”
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This doesn’t just apply to iPhones and iPods; it actually applies to any part they put into your Apple product. The logic board they put into your MacBook Pro: refurbished. The optical drive they put into your iMac: refurbished. The DC-In Board they put into your PowerBook G4: refurbished. There are many, many parts out there that Apple will happily replace for you, but beware – it’s probably not new. Re-manufactured is no different than refurbished.
In my experience — which is the same as Josh’s according to this post — is that most people (A) already know this and (B) don’t care, as long as their products get back up and running quickly.