I've long subscribed to the philosophy that you should buy the cheapest tool you can find and use safely, use it until it wears out, breaks, or your skill surpasses the capability of the tool - and only then should you spend money on high quality tools. Too much money is thrown away in the name of "buy once, cry once" only to discover that you don't need the capabilities offered by the top of the line options.
Agreed! If you are a trade professional and regularly have tools crap out on you, that's one thing. But my tools are more likely to need replacing purely out of obsolescence than anything else. And having an overbuilt tool collecting dust is just as much a waste as throwing one away occasionally.
Is it?