I don't own any $150+ headphones, but I have owned a lot of cheaper headphones. In my opinion sound quality depends on how much you listen to your music.
My earbuds that came with my MP3 player is perfectly fine on the run (biking, running etc.) but I would never for the love of God listen to them at home.
what I'm saying is, if you "listen" to your music, instead of just having it as background noise, you know what the difference is.
That said, more expensive...