Sure, I've had my share of cheap and horrible knives. What does one expect when you start buying them when you are 11 or 12? To my credit, or maybe luck, I never did buy any cheap chinese-made knives when I was a kid, just because they looked cool. I've got a box full of cheap Shrade, kershaws, Swiss-army type knives, boy scout knives, and a ton of slipjoints that are rusting away. The thing that I see when I look at those knives is that they were absolutely practical and every one of them was used, loved, and eventually replaced, because I knew very little about maintenance.
As I got older, I started to realize that there was some value in researching what I need and buying quality knives. For the most-part, that philosophy has paid off and I'm really happy with almost everything I own. However, a few weeks ago, I got caught up talking with a guy running a knife table at a gunshow and he had some Ka-Bars. I knew I had wanted something for wilderness camping that I could depend on and I wasn't about to buy a Bear Gryll's knife. So, I picked up a Ka-Bar 1221 (7" fighter, rubber grip) and was thrilled that I'd found my utitlity knife. I got home and started researching these...and quickly found that though I'd gotten a nice knife, it came with the wrong sheath and box. Whatever, I can live with that. Then, found that I paid way too much. They're all over the place for $60-$75 and I realized that I got taken because I was impulsive. Not a bad knife, but every time I see it, it's embarrassing to me, because of what I paid for it.