I hope you guys are talking about plug patching, the only accepted way to repair tires!! and not the black slimy worms you buy at wal-mart, seriously it is a very dangerous thing to plug tires. Plug patches look like a traditional tire patch with a stem rising up from the center, the tire is prepped the same for a patch however a hole is drilled and the patch is installed with this stem sticking through the hole. It all has to do with the layers of material that make up the carcass of the tire, and how a hole in those weaves can rust out the steel. Be safe about it man!!
http://www.tirerack.com/tires/tirete....jsp?techid=77

 

I've never had a problem plugging in the past. Plug it and check on it after a day or so, then check weekly.

 

I just had the same issue with my rear tire yesterday with a leak. Had it repaired today. It was in a similar location on the raised tread. I had it patched. $16 which I thought was very reasonable.

Let's see if it holds up.

 

I've plugged a puncture that was way closer to the sidewall before and the tire was fine. Don't bother replacing virtually new tires over that. As others have said... just patch it.