Albert.
Fact is, and I'll say it again, what you consider mid-priced units, include some of the most respected, used and loved units that adorn many a pro (as in A-list) studios around the world. You said: "To expect high or mid quality performance of budget gear is not reasonable" Expect is one thing, the reality is often a different. Pick up Mix or soundonsound and read some reviews. I own a V-Verb that I use right along side my V77 and there is nothing cheap sounding or unprofessional sounding about it. BTW, it was the soundonsound review, along with techmag review that prompted me to pick the V-Verb up for a lousy $150.00 bucks and the thing will compete with any mid-priced unit out there, you might not like it as much, but it's a matter of taste, not sound quality.
As Paul White himself said of the V-Verb
"it manages to deliver surprisingly good-quality reverb for a bargain-basement UK price. It can certainly hold its own against much more expensive competitors, If you aspire to the best, but don't have the budget,
the REV2496 is one of life's better compromises!
You need to get over the price because it's no longer the factor in relation to what you get. There are people out here, people who's credentials we all know who have and do often recommend cheap gear and compare it with or even favor it over higher priced "name" gear. Things change, technology advances and prices come down. If Dot didn't reveal the telefunken mic was the same as the Apex mic only $1,200 more, people would be praising that mic instead of saying it sounds like crap. It's all in the head, well not all, but a lot of it.