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I think part of the reason some people say you have to pay a fortune to get good binoculars is that there are a lot of really horrible pairs for low prices and the good ones are relatively rare. If I take that pair branded Fernglas that I talk about above as an example, it's barely worth calling them binoculars - they are that bad.
That said I have never looked through a $1000 pair of binocs in the daytime, and never a pair over about $400 at night. I would love to compare them to the cheapies to see just how much better they are, and if I ever get a chance to I will.
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