Nope, as previously stated (in a roundabout way), holster wear falls under 'normal wear and tear', while rust falls under manufacturer defect. Now, if holster wear wears it down to the point that it rusts, I would suggest calling SA to see if that's covered. After I personally have armadillo'd my xd to death, I notice holster wear doesn't really hit the finish, just rubs the armadillo. A little dab more, let it dry, and a buff and it looks good as new

I have 4 armadillo applications on mine (yea, excessive), but it doesn't have holster wear or rust!
Matthew