I've been a mechanic with various shops since the age of 16. Craftsman gets the job done, but still break. Husky gets the job done, but breaks more often. Anything lower than that, and you might not get a heavy job done. MAC tools are like the name-brand Husky, big handles and such. Snap-on is the Ferrari of hand tools. I only get specialty tools from Snap-on, or sockets that just won't hold up from another brand [of course, you don't know if it will or not until you break it], and I have yet to exchange a broken tool, only a ratchet that I liked so much that the teeth wore out h:

You basically just need to decide what kind of work you're going to do, and that will set the level of money you need to invest in tools. For fixing a bicycle, cheap tools are fine. For rebuilding an engine, not so much...