Here's my experience with cheap gear, including a "suisse sport" 20 Deg sleeping bag, and a wally world, Coleman tent.
2 Years ago I went on a weeklong ride with my brother thru CA. He is of the opinion that if you are going to buy something to use, you should always "invest" in the most expensive you can afford. In the long run, if you buy cheap, you will end up replacing it - (yes, one of those guys) I used to be of the opposite train of thought: Read - Cheapass.
We both needed camping gear, so before the trip he bought a $200 Alps tent, a good down sleeping bag and an expensive sleeping pad. I stocked up with the usual cheap crap at Walmart. I shook my head while we were setting up camp the first night quietly balking to myself as he set up all his "camping snob gear" That night I froze my ass off, and woke up with my hips aching from the cheap pad. He slept like a baby. The next night, it rained. I then froze my ass off again, woke up even more sore and wet as well. He, slept like a baby. Warm. Comfy Dry.
We stopped at REI in Reno the third day. I walked out with a new down sleeping bag, a quality inflatable pad and a new Big Agnes tent. That night, I slept like a baby. Warm. Comfy. Dry.
Lesson learned. Buy the best stuff you can comfortably afford. Tents included.