Alot of this Harbor Freight talk often boils down to good vs. good enough. I would think that generally speaking, a Milwaukee/Dewalt/Hitachi/Porter Cable/Bostich/etc. is of better quality than whatever brand HF is marketing under that week. They also almost always cost considerably more. I would say that they are the "good" tools. The HF equipment, while not as high of quality, may be capable of doing the same job, albeit for a shorter amount of time perhaps (i.e. shorter lifespan) at a fraction of the cost. I would say that they are "good enough" tools. Again, the need for good vs. good enough boils down to the individuals needs.
As I mentioned, I've had good luck with HF power tools, as well as some from Cummins tool sales and Chuck Homier. I bought several $5 grinders that I felt I got $5 of use out of. Were they high quality - no. Did I get several hours use out of them and was I happy with money spent vs. results given? Absolutely.
When I was building my house and got to the point of needing a hole hawg, I waffled between the HF version and the Milwaukee version ($80 vs. $250). I decided to go quality and bought a brand new Milwaukee. The first day I used it, only 4 or 5 holes, the transmission broke. Now I will have to say I was only out the $12 that it cost to ship it to Atlanta for repair, but it was gone for almost a month. I had the luxury, since I was building the house myself, of switching to a different task while I waited. If I was in a hurry, I would have had to buy or rent a replacement.
In the end, its up to the consumer to make the decision as to whether they need a good or good-enough tool