I don't have any ultra-high-grades, so all I can do is compare some of my low-priced pipes, with the mid-grades, with the several higher-priced (to me) pipes that I have. This is highly subjective. Some of the low-priced pipes smoke as well as those in the higher categories, but all three or four of the highest priced ones smoke really well, just in terms of draw, balance, dry smoking, etc. So price should buy you some assurance and consistency, though you can buy high priced stinkers we're told. I do have to admit, that I get a special sense of gratification when those especially nice (pricier) pipes come around in rotation. I feel a little jolt of energy and also an appreciation for the artistry. Though I do get a lift from the lower end pipes that perform consistently well. fishnbanjo and other high-end collectors cultivate an appreciation and sense of joy, if you will, from really fine pipes, and I certainly enjoy that vicariously. I learn something from each photo and apply it when I buy the pipes that I can.