Well, good technique can only compensate so much for poor tools.  Sure, cheaper brands will probably work, but I've found them considerably harder to work with and still get a smooth, well blended finished product.  I guess it all depends upon your own experiances though.  Yeah, they are a little pricey.  Since they are the colored pencils that all the college art classes insist upon, they will run you $15 to $20 for a set of 12.  The larger sets start at about $25 and go up from there.  Individual pencils will cost you around $1.25 a piece.