Sort of. The expensive 10,000 RPM tachometers and 180 MPH speedometers are still analog, and so still just show information they receive from sensors, so they aren't any more "accurate" in that respect. They are, however, usually more responsive, meaning they can keep up with an engine that will go from idle to 9000 RPM in a fraction of a second. Cheaper gauges will usually lag, which is something you don't want. The lag isn't much, but it's annoying enough that you can still sort of tell, which affects your driving - you're having to expect to read what happens with that delay, instead of in real time. This isn't such a problem on street motors, which don't have the high RPM use of a race engine, so a less responsive gauge is fine.
You're also usually paying for the design, with fancy day-glo backlighting and exclusive trim and face colors not offered on lower end models.
As far as temperature, oil pressure, voltage gauges, they are similar, but since those things don't change as quick anyway (or at least you hope they don't), a budget gauge set is fine for almost all street driven vehicles. A more expensive set with quick response or even warning lights and all that might do better for a competition vehicle to avoid catastrophic damage.
Really though, I think most of what stores like AutoZone sell is still consumer-level stuff, just in tiers of budget replacement to performance enthusiast. Even the lowest priced Auto Meter / Auto Gauge set is fine. There are also plenty of other brands, Actron gauges tend to sell cheap since not a lot of people know about them.
