While I understand a $5 dollar rod will land just as many rods as a $500 rod saying they perform only slightly better is a little off. That's kind of like saying that a $10 shimano IX reel will perform just the same as a Stella. While the IX reel will land probably just as many fish the drag is horrendous and it might just completely fall apart without warning.

I think the technique and style can be important to what kind of rod or how expensive of rod is used. For float fishing longer rods I think its very important to have a very light weight rod. You won't be fishing very effective if your shoulders are sore from holding up a tip heavy rod all day trying to get a good float. Same goes for centerpin rods. I used a cheaper model a few times and it was so tip heavy I don't know how someone could fish it for even a few hours! To get a very light weight rod you need to spend some money. I can see the same reason to spend a lot for a spey rod.

I think in the end it comes down to personal enjoyment. Is it fun to fight steelhead on a $30 rod? It sure is. Would I rather fight steelhead on a high end rod. Duh. I work hard so I can go fishing. On those days I might only hook a few fish and I want to feel the most out of those fish using the best reel and rod I can afford. Can I drive to work in a pinto? Sure, but I would much rather get there in a Ferrari going the same speed.