I find that I often prefer cheaper touring gear. For me many of the items that are often considered the gold standard by some are heavier, more expensive, and not that much more functional or in some cases even less functional. A few examples:
- Racks: Nashbar front and Blackburn EX-1 rear vs Surly Nice Racks. The former are inexpensive light and functional. The latter are very expensive, very heavy, and functional.
- Panniers: Performance Bike or Nashbar waterproof vs Arkel. Again the former are inexpensive, light, and functional and the latter are very expensive, very heavy, and functional.
- Bikes: Something ranging from a Windsor Touring to the LHT Complete vs a custom build or a high end brand. The former are cheaper and functional, the latter are expensive and functional. The difference really won't mean much difference in the touring experience. After couple months on a $599 Windsor or a couple months on a $5,999 custom, the memories will not be about the bike in either case.
That said it can be worth splurging on some items. To me it makes the most sense to splurge on items that are both lighter and more functional otherwise it doesn't seem worth it. A prime example to me is my Thermarest NeoAir. It is overpriced, but is light, packs small, and is exceedingly comfortable.