Rule of thumb...Your weapon of choice should be at least equal value to what you've got in the game... If your spending a couple of grand to hunt a WT or 5+ to hunt elk. You don't want to rely on a $400 POS rifle scope combo... good guns go up in value. If you don't have the cash, borrow the gun, that's what hunting buddies are for.
Disagree completely. Reliable, functioning equipment is obviously vital to be sure, so you want the best you can afford. But there's a law of diminishing marginal returns involved. As long as you have equipment that works well and meets your needs, you're perfectly ok.