I have also noticed that the HF tools are getting better (they still sell a lot of crap). The price difference between HF and US or Euro tools is so great that for a handyman as opposed to a pro, the HF stuff is good value even if less well fabricated and might only last a few jobs. The designs are almost all virtual copies of industry standards (eg the Predator engines are truly Honda clones, the metal working tools are all clones too) and their construction quality is improving. I just shelled out >$150 for a set of 12v lithium Bosch hammer drill and drill/driver and then saw last week that HF has their own version for about $50. I like the Bosch very much but would be hard pressed to justify the 3X cost for a set of tools I use only to complete "honey do" tasks around the house. Several years ago I bought a Fein orbital multitool for $400 that is still a much better tool than the HF version but the HF version works (I have one) and only cost me $17! I recently bought some HF "super glue" for about a third the price of the Loctite version at HF too. The generic devices/supplies are of sufficient quality and value that I just don't really find that much to complain about given the price I pay. I'm sure I would feel very differently if I made my living with the tools.
In general what I find is that 1) there is no equivalent US store that handles the range of hardware carried by HF so it is convenient to shop there, 2) I can afford to buy tools that I could not justify or afford if I limited myself to US/Euro brands, 3) 20% discount coupons that I carry in my wallet, I only buy stuff that is on sale at HF or use a 20% coupon.