Ask yourself two things.
First on the notebooks that cost $1,500 or more is that additional money all going towards "bells and whistles"? Or is build-quality, individual component quality increased as a result?
Second, if the latter part of the first statement is even partially true, how adversly do you think sub-par build-quality and sub-par individual component quality affects a less than $500 notebook?
Not worth the risk in my opinion and if I spend more than an hour "looking at" someone's $500 notebook trying to troubleshoot an obscure issue that may or may not eventually be traced back to sub-par component quality etc. they're going to wish they had just saved some more money and purchased a "better quality" (ie. less cheap) notebook.
Plus I'm not interested in changing the argument here. Your initial point was that $479 wasn't "cheap". I stated that I thought it was considered cheap (at least in the realm of notebook quality and not in terms of your financial situtation which I did not address). I still maintain that point. In my opinion any notebook under $1,000 is already compromising on quality somewhere (I don't care about the type of components in your laptop I care about build quality and WHO made the part) and you will feel that compromise somewhere someday.......now get a notebook under $500 dollars and I'm hard-pressed to refer to that in any other terms but "cheap".
In my books, "cheap" doesn't get to run my life, store my data, etc. etc. those are things better entrusted to hardware not assembled with a $5 soldering gun.
the Monk