Premium gives you less weight, at a hefty price.
The spreadsheet below compares a budget set-up to a premium set-up, and the budget set-up was my original kit - some still in use, and some upgraded. With that said, I would absolutely stand up for my original kit and did hours of research picking the best reviewed products and options.
There is nothing in my old kit that failed or that I wouldn't use again, but as my back-packing increased I wanted better gear, usually weight related. If you are unsure how often you will use your gear, just getting started, or don't want to spend a lot - this chart gives you an idea of the cost impact of going premium, and/or the savings of going budget.
Also, the premium products are chose are not necessarily, the best, the lightest, or the most expensive. They are the closes resembling products to the budget list, based on materials, size, etc.
Bottom line -
Total Budget Kit: Cost - $756.28 Weight - 278.9 oz / 17.4 lbs
Total Premium Kit: Cost - $2,260.46 Weight - 206.9 oz / 12.9 lbs
Difference: Cost - $1,504.18 Weight - 72 oz / 4.5 lbs
