To a point. A 50 buck Monster cable will sound better than a bit of string with a paper clip at each end however, like everything else you pay your money a takes your choice. I think that after a certain point the relationship between cost and quality is no longer linear and a little improvement costs a lot!!

If I want cheaper cables I use Fender California cables. They are OK, not too dear and look quite nice!

I have a lot of monster 100 and 500 cabling and recently there quality has gone down hill i.e. they have started using cheap molded connectors etc.

My current favorite for the studio is Mogami. Not cheap but bloody good cables !! They also come with a lifetime warranty.