Getting back to the original question!
The first main difference in price is balanced vs unbalanced first stage. I don't know if anybody still makes unbalanced first stages, but these used to be the cheapest. A balanced regulator should breath pretty much the same as the tank pressure drops. An unbalanced reg on the other hand will start to be "more stiff" as pressure drops in the tank. If you ever get the tank pressure down to the level of the reg IP then breathing is really quite difficult.
After that the differences are principally weight and how well they perform in cold water.
So, diving somewhere warm, and not particularly deep, using a rented reg you would not notice any real difference in performance between "high end" and an "el cheapo" reg (sorry to OxyCheq if they have a TM on this name).
The differences come when conditions get difficult. Cold, deep and hard work? then yes you see big differences between regs.
Last week I dived in the French side of the English channel. The water was 8 Deg C. Back in February I dived in a local quarry when there was snow on the ground, and the water was 1 Deg C. In these conditions we start seeing real differences. Look at the Apeks range, the first stages (US4, UST, DS4, DST) the first two are similar to the second two, but are not environmentally sealed. In cold water like my last two dives these regs would have problems, particularly freezing. The second two wouldn't (and didn't). The price difference is unfortunately not what it takes to make the reg, but what the additional functionality was worth. At both dive sites I saw several divers with free-flowing regs at the surface. We cold water divers are a superstitious lot, and when we have confidence in one particular make of regulator in these conditions, we tend to stick to it. I wouldn't change from Apeks for all the tea in China - my experience with them in these conditions is such that I have complete confidence in them.
The other main differentiating point is weight. If you are flying off somewhere, then weight is an important issue. The Apeks flight (1st +2nd stage) is 467g in Din format whereas the XTX50 is 1150g in Din. this is 60% (or 0.7kg) lighter. Now if you have two or more regs for a family going diving, this size weight advantage starts being really useful especially with the poor weight allowances most airlines give. Is it worth the price premium? I'm not sure, it depends on how often you fly and how much crap you take with you.
One other point is their life expectancy. My Apeks TX20, 40 and 50 were bought in 1994 - 6. I have now done hundreds of dives on them. They are still perfect in cold water. The first stages (DST) are still manufactured. The internal mechanisms of the second stages are still manufactured. Obtaining parts is not, and will not be for a long time, anything of a problem. The other "top flight" manufacturers are the same. Outside SCUBA, getting something 16-18 years old serviced starts to be difficult. I am sure that there are some regs of this age that are now not serviceable because of the lack of parts.
So, there we go, my rambling thoughts on this. I would however, like to be able to legally service my regs myself. However, having seen the mechanical aptitude of the general population, I can see why manufacturers don't want unauthorized people working on regs.
Best
Jon
PS the OP had an Aeris ION. The European price for this as a complete set with 1st, second and octopus is about 490€(list) and can be had for about 420€. An equally performing Apeks twin XTX40 set will be about 540e list price, and can be had for 460€. Would I pay the extra 40€ to get a regulator that I know will be performing just as well, in the bad conditions I dive in, in 16-18 years time? Hell yes I would.