I believe the testimony that a lot of the cheap ones work. I bet all but a handful of real pricey ones (even some of those possibly) come down 2 or 3 lines in the world. I am a professional, I don't use them on an assembly line but I am impressed with the bottom tier stuff. Lost a set, broke a set, one set was given to me, a real cheap tin box, probably 5$ at a flea but those suckers were good. One was import from an Ace about 15$.
I pass that stuff in those markets but since China has grown the quality has really shot up. I been down the Lisle road, but the last set was 15$ at Walmart and still good. I got maybe 75$ in it all,,, lost and broke and still work. The first set would have lasted just fine, there is a slight amount of gamble but,,,,,,,,,,,,,,,,,,,,, if you are asking this question I can assume some need, do not wait to fulfill it with a 200$ 10 pc set, spend 15 and if there is a snowballs chance in hell you need anything better than that buy it again.
This is an age old question and I still find it difficult to understand. Its about like a Hrley rider scared to get on a commercial airplane. The risk of buying cheap is so small, it would be one thing if you had to rationalize 200$,,, then were not happy od couldn't earn it back on the investment but any argument that suggests a high degree of risk with a Walmart tool is a statistical losing bet.
One thing about them, they will sell some cheap **** but they also have buyers looking for value and world competition to shop from. 2 shops in China, 30 cents difference on price for a socket set that sells for 20$ with lifetime warranty or a nicer finish,,, which one you going to take?
Think Walmart and Stanly want to be a 24 hr return center for every hillbilly with a long breaker bar? Same with those bits. I am not easy to impress, I would have walked right on by,, and have at a flea or fussed over the Lisles,,, but chances are the metal involved is so small,,, can you imagine quality tracking all these itty bitty fukkers world wide,,, way easier to have a pallet of good and a pallet of premium, same with a screw driver, same tip with any number of handles and when they run out of good handles can put the same tip in a *************. Adjustable wrenches have really hit this, same blank plucked off the line
You can find out if you really need the 200$ set down the road, if you got none buy the cheap stuff. Same with a fukkin screwdriver. A person needs about a dozen quality tools but most guys cant wreck a cheap linemans plier in a hurry. 440 channelpock, a couple 10R vise grips, a couple 11r, toss in a 6, a hi leverage diagonal. A good stripper is worth it. A couple good nut drivers to fit ones profession.