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As has been pointed out: totally dependent on what you're doing. I don't have an all-situations tent. I have a cheap-ass, $20 tent from Big 5 that I use for drive-up camping in the summer. For backpacking, I have a bivy sack in the summer. For snow camping/backpacking, I have an ultralight tent and frame that keeps me off the ground, which is in storage somewhere and I've only used once because I hate being cold.
If you're going camping in the normal way, simply driving to an area, carrying your stuff a little way from the car, and making camp? Expensive tents rarely offer you much that cheap-ass, crappy tents don't do just as well. And, if you get the cheap tent, you're not going to be mad when your drunken friend falls into it and puts a hole through it. Well, you'll be less mad.
