For me the title still doesn't work (sorry Sixstring lol!) - it's more more like "cheap guitar or expensive > discuss!" because, for me anyway, I want to build a collection of guitars the best covers the sounds I want - so I could narrow it down to a minimum 3 in my case: Strat, Tele, Humbucker as I'd consider each a specialty tool that does it's thing best as opposed to one "flexible" guitar that maybe covers all that ground but not "ideally". For all of those 3, more expensive is going to be better if I'm shopping properly for value (ie no signature models ...). Within those 3 I feel like I could get away with less expensive on the simpler guitars (ie: maybe more $ should have gone to my strat given the trem instead of the to my SG).
Man, I wasted a bunch of money