<< My current Sony 12x8x32 does just fine with cheap media too.
I even play all kinds of media (both cheap and premo) in my portable CD player (cheapo Panasonic)... So the only reason for me to get premo media is if it is cheap or if I want to archive something for a long time. Of course the other benefit is you'll likely have less problems (bad disks) with premo stuff.
Personally I get whatever is cheap. But I 200+ blank discs from the Outpost KHypermedia deal so I'm set for a long while. >>
I don't think I have ever had problems burning any media (cheap or not) with any of the burners I have had (starting with my old 2x up to my current plextor 12x). The problem, though, is whether or not the CDs will hold up. I used to use Memorex CDs all the time (the were gold colored on the label side) and they seemed just fine in my CD Rom drive, home CD player, and in several car CD players I tried. When I went back to use some of these CDs after 6-8 months, many of them just did not work.
I, too, am currently using a large stock of those hypermedia 8 and 12x CDs without any problems yet, though it hasn't been all that long.