IMHO, you don't need a $1,000 bow to be good. I think there are many mid level companies that make great bows that are capable of hanging with more expensive ones.

I shoot a Reflex and I drill arrows at all distances. I almost always have tight groups, so what could a more expensive bow offer? My guess would be asthetics, name recognition, maybe be a little quieter. Plus, if you truly want to get better practice more!!! Bottom line, you don't need a $1,000 bow, but they do offer some benefits and it is always nice to have another toy.