I have an expensive set of Cutco, and a $40 set of Chicago cutlery that I got at an outlet store. Both blocks are sitting on the counter. The Chicago knives are used more often than the Cutco by at least a 10 to 1 margin. They work just fine for most of my needs. They're also easier to keep sharp - I'd rather slice through my food than saw through my food.
P.S. If someone says, "but this set is awesome, the scissors can cut through a penny!" I have a $1.99 pair of school scissors in my classroom which cut through a penny just fine. It's only amazing, because people don't expect it to be so easy. In fact, this applies to a lot of demonstrations that people do: many demonstrations work identically well with other products. It's just that demonstration does something that the normal person wouldn't do, and the results of the demonstration are counter-intuitive to most people. That leaves them thinking that the product is better, when in fact, the demonstration does nothing to distinguish that product from the rest. Another example: sawing an aluminum can in half.