Beretta686, if I could chime in here (somewhat) briefly...
You make some excellent points and to sum up what you're saying in one word: VALUE
A similar statement could be made regarding people who enjoy wine - as you touched on in your post. Yes, you can spend $100 on a bottle of Cabernet. Will it be tasty? Probably, as long as it's not corked. Is it worth the money? Well, for the people 'in the know', it certainly has that snob appeal.
However, you can get some decent red wines for $12 and up. Will they be as good as the $100 bottle? Depends upon your taste and what you value.
You could get a very nice bottle of red wine for $18 that is 80%-90% of that $100 bottle - which would make that $18 a great VALUE.
So, if you find some pistols/revolvers that are a great Value and are also reliable that you like... Then, they're worth it!
Just one guy's opinion...