I was strictly a Craftsman guy until about 15 years ago. I have a rollaway in the garage with a pretty complete set of Craftsman stuff; much of it was given to me as gifts when I was still in my teens (I'm mid-40's now). I don't wrench for a living but have been known to tackle some fairly complex shadetree jobs. The only thing about Craftsman I've never been fond of is their wratchets; I've got one 3/8" drive I know I've rebuilt at least three times (and this is with fairly light useage).
About 15 years ago, I was living in a smaller city when Sears shuttered their company store and a franchise store popped up in it's place. After buying my first car new enough to have metric fasteners, I popped into the franchise store to purchase a set of metric, 3/8" drive deep well sockets for a project I was working on that day. The store was loaded with T.V.'s, vacuum cleaners, and appliances, but their tool aisle was pathetic. When I couldn't find what I was after, I asked the teenage girl behind the register. She handed me a catalog and said they didn't carry what I needed but could order it. Needless to say, I wasn't impressed; after all, this wasn't some exotic specialty tool I was after. I subsequently have not purchased a single Craftsman tool since then (although I did get some Craftsman gear wrenches as a gift a couple of year ago for Christmas).
After leaving Sears dissappointed, I swung by my local Ace Hardware store. They had what I needed, hanging on the shelf, one more socket than the Craftsman set, and including the socket rail, in the store brand. They are also advertised as lifetime guaranteed, although I have not had to use the guarantee, yet. For the next multiple years, any new tool needs I had went to Ace Hardware. Recently, though, I've found their prices on their good tools have begun to rival Craftsman.
Over about the past year or so, I started to notice a need to have tools readily available in the back of my truck. This same truck sits outside overnight at my regular job, and theft/loss is a real possibility. I decided I didn't want to risk my "good" tools.
Harbor Freight opened a store about a five minute drive from me a couple of years ago. I went and cruised the aisles, and liked what I saw. My birthday was coming up and my family always complains that I'm tough to buy for, so I went online and made out a wishlist for Harbor Freight that I distributed amongst them.
All the Harbor Freight stuff was purchased either on sale or using the 20% off coupons. I figure there is only about $100 bucks and change ******* in what I have, and it's a pretty complete set that should be more than adequate for my occasional, non-professional needs. If I had purchased the same set at Sears, I'm sure it would have set me back three times that. Off of a tool truck...I don't even want to think about what it would've cost.
The fit and finish of the Harbor Freight stuff appear as good as any of my Craftsman. The Harbor Freight stuff hasn't seen much use, yet (summer is my busy season) but I don't anticipate any problems with my useage pattern. The clerks at Harbor Freight were also quick to point out anytime I was purchasing hand tools that they are lifetime guaranteed.
In summary, I would say that Harbor Freight is a pretty good compromise between price and quality. If I was bending wrenches for a living-no. But for my homeowner, shadetree purposes-yes.