Indeed. Chances are if you're stripping notches, it's likely that your lockring tool isn't seating properly (whether or not the notch dimensions are out of spec, I have no idea). Assuming your hub body is Al, some might argue that a machined Al lockring is a better idea than steel, given that you atleast have a chance of saving the threads if you bugger up the install. Try overtightening/cross threading a DA lockring onto that hub, and see who loses: I guarentee you, not the 7$ ring.

I use a couple "no-name" Al lockrings (ie: one's that came on the hub), never had a problem installing or removing (using the hozan wrench). The key is to make sure you have proper engagement before muscling down on it. Heck, steel will round out on you too if you have a grossly mis-fitting tool.