Flashlights
Here's a category where I'll spend. I've tested out cheap flashlights to the point that I've spent more money, time and energy than if I had just spent some money to start. If I want a good flashlight, then the cheapest I'll go is Fenix. They're rugged enough for my purposes and have not failed me in adverse conditions.

Knives
I have found that the knives that have the mystery metal from China won't work as well as the knives that you clearly know what the metal is. For my purposes, a knife that has good bang for the buck is a Becker BK2 for about $60. I needed a solid workhorse, and this knife fit the bill. It did require some modifications to please me though. I will spend upwards of $200 for a fixed blade, but not much more than that. I don't want to feel squeamish about actually using my knife, and I want it to be replaceable. I refuse to spend more than about $80 for a folder.