The answer is yes.

Better componets and a better ride. Consequently, I have found the nicer bikes less frustrating and easier to maintain than my old huffy. Plus, I can bike further in much less time.
My experience with the sub $100 bikes is that they fall apart way too much and you end up spending quite a bit of time trying to keep them running.

My current bike is a $500 hybrid. Eventually, I am looking at around $1500 for a decent road bike.