Someone in one of these BOB threads mentioned going to the extra expense of getting quality items for the BOB, since if you end up needing it your life may be counting on what you have. I fully applaud that mentality...if you can afford it.
However, I have to say that having something is better than having nothing. Personally, I plan on trying to get *something* for all the items I want to have in my BOB, and then replacing the cheap stuff with quality as I can afford it. Not having been raised in a family that did any outdoorsy stuff, I don't have basically anything that would help me live off the land.
For instance, I saw a link to a revolver knife / saw thing that was something like $100, and that would be really nice to have. Lacking that however, I think I'd rather have a crappy walmart pocket knife and camp saw for $15 total than wait until I can afford the quality.
Same reason I'm looking at possibly getting a Hi-Point handgun - I'm not going to pretend it's wonderful, but it's better than nothing, which is what I have now.