I would say yes - the quality of both sockets and wrenches matter.
I worked on cars for a living for many years, and have thousands in SnapOn, Mac, and Matco tools, but I would say they are not necessary for the casual mechanic or enthusiast.
Generally I've found that Craftsman tools have been a good compromise between cost and quality, though lately some of the tools are being produced off-shore. It seemed to differ, even between tools of the same type (say ratchets) so you need to look closely. There may be "promotional" tools or tool sets sold at other retailers that are not the exact same as what you get when you purchase individual tools directly from Sears.
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