Chow's got a short list of cheap kitchen gear just as good/better than the expensive stuff, and for the most part, I agree with their list.
I'm certainly guilty of overspending on certain gear, but frankly, you'll have to pry my All-Clad chef's pan out of my cold, dead hands. Same goes for my Global knives (although I hate the shape of the handles). My little-used but much-appreciated Cuisinart falls into the same category. Expensive, and worth every penny.
I'd say Chow's best picks are the restaurant-supply sheet pans, and Lodge cast iron. I'm big fans of both, and it kills me to watch people buy $40 baking sheets and $150 grill pans in fancy kitchen-porn shops.
It's also pretty easy to get good deals on the expensive stuff, too. We're always on the hunt for Le Creuset at garage sales, antique shops and discount stores, although the antique shops seem to be catching on lately and jacking up the prices. Thanks to the lifetime warranty, a cracked/chipped/otherwise fucked up Le Creuset will be replaced free by the company for the price of shipping it to them. And there's always the outlets.
[All-Clad, Le Creuset]
