Is strength an issue? Has anyone ever bent or busted a full sized
imported wrench and believed that a comparably sized US made product
wouldn't have similarly failed under the same circumstances?

Just wondering....I've split more than a few US made thin wall sockets
in my day by pushing them too hard, and I'd expect that cheap sockets
might be more prone to that kind of failure. They may also have less
accurately formed interiors, so I excluded sockets from my question
above.

Normally I would agree with those who say that "good branded names" are best
but for one example. I used to run the maintenance section in a large
sawmill. The local cheap tool shop sold sets of metric combination spanners
(8 - 19mm in all the usual sizes) for £2.99. Yes that's about $4.00. We all
laughed until one of the fitters bought a set. They worked, and worked well.
We bought goodness knows how many sets after that and, in about 5 years, I
never heard of a breakage.
I have a few sets. Well at that price, you do, don't you? These things just
work and work. I do accept that they are the exception though having had
many a cheap tool break on me in the past.
What you do get with the branded names is the knowledge that they WILL work
rather than the lottery with cheap tools. Over here in UK, one of the trade
mags used to test different makers hand tools to destruction occasionally.
Can't remember all of the details as it's some years ago now. However, the
top names included Beta, Facom, Snap On and (I think) USAG. Snap On were
never at the top of the list and the consensus was that they were overpriced
when the same strength was available from others for less money.

John