Yep there may be general rules... All the same there are circumstances in sessions were I'd rather have one of those under £100 Vintage/Ozark/Hora mandolins with me than my (I'd think around £800 new) Buchanan.

I got my cheap one when I first moved to this area and gave it away last year so it would have done me around 16 years. I replaced the tail piece before I parted with it as it had gone a bit rusty but saw no reason why it shouldn't do someone else another 16 years.

We could argue this all we want but nothing is likely to change my own opinion of that instrument based on using one for a reasonable length of time and having goes on things of similar and of greater price (although nothing really expensive) over the years.

Of course someone else might find things different but that's how I found things.