The law of diminishing returns applies to mic cables, but not this low in the curve. If you were asking about the difference between $30 cables and $100 cables, I'd say save your money and get a BLUE Kiwi cable for $30. Instead, I'll advise you to SPEND your money and get
a BLUE Kiwi cable for $30.
Yes, there is a significant difference in the quality of an oxygen free
quad mic cable, and a cheapo mic cable. Whether or not you'll be able to appreciate the difference depends on your mic, preamp, mixer, soundcard, amp, monitors, whichever applies.......oh, and your ears. If you plan on building up a quality recording setup over time, then this is a good place to start. If you already have quality components, then don't shortchange your sound on cheap cables. If you always plan on recording to a cassette 4 track or a 16 bit soundblaster, and listening on a home stereo, get the $10 cable and spend the $20 on beer or something.
Cheers, RD