Me personally, I prefer the 24hr refund policy. I'm more likely to purchase an app if I can try it. There's a reason why there are a lot of "lite" app versions on the iPhone.
Well I'd love a 24 hr refund policy, but with that said the Apple App store has such a high quality, i'd say most of the apps are worth it.
To compare, you have Windows Mobile and Symbian OS all charging an arm and a leg from when the App Store first debuted. The "best" Twitter client on S60 cost $9.99. I remember that. And a simple free app like TweetDeck when it first came out completely demolished it. Everyone praised Gravity (S60) like it was the best piece of software out there on Nokia boards, but to me and many other people who used Apple devices also, that app was an absolute joke for $9.99.
I know many people like to hate on the App store, but having an iPod Touch for almost 2 years (I sold it just before the 3rd gen came out), I have to say that the apps I recall running were better than what I can find on Android now.
Granted, there's some nice Android apps, but when you compare to the iPhone, almost everything that's ported over is as good as a Mac port of a PC app (like MS Office). You get SHAFTED. Look at TweetDeck, Facebook, Meebo, IM+, etc etc.
With that said, I think if you haven't fully utilized the App Store (and I admit I did so via jailbreaking), you you really don't know what Android is lacking. I really do hold hopes for Android because there's so much room for improvement. not only that, with the market dynamics changing, I do think that app developers WILL start pushing for Android soon. I just hope things move a little faster.
For example, the Facebook app today still sucks compared to what I was using in July 2008 on my iPod Touch. Or even the webOS one was amazing.