You can most definitely tell the difference between cheap $50 tires and a good set of tires on the street.
Good tires will give you increased traction, decreased body roll, increased wet weather handling , and shorter braking distances !
5 feet of braking distance is the difference between a ding on your bumper and new quarters, hood, grille, radiator, etc etc.
I think the real reason we buy them is because we love the French ! { BFGoodrich is a Michelin subsidiary]