Cheap/expensive or expensive/cheap?

I will say something that many will probably disagree with but I have found it to be instructive over many years in this hobby: you should budget almost as much on the the amplifier to speaker interface (speaker cables) as you do on the amplifier. Strange but true. From examples of David Wilson demoing speakers with a basic receiver (but good speaker cables), to testimonies of guys putting together their most satisfying systems with integrated amps and speaker cables that cost more than the amps, the experiences go on.. Not sure where those observations fit in this cheap/expensive or expensive/cheap discussion, but it is what it is. Some guys that spend $100K on speakers and amps will spend 'only' $5K-$10K on cables. Big mistake; and they can't figure out why the system is still not satisfying. Lots of different variables of course but that is my opinion.  Flame away :D

blueorion,

"...(as well as my non-audiophile friends) heard a noticeable difference on better ICs followed by speaker cables----not as much on the conditioner and power cords."

This sentence of yours should be at least half of the answer applicable to you on the question you asked in original post.

For some, the question is a non-question. Better electronics/speakers will always outdo worse electronic/speakers, no matter what functionally adequate cable (conducting and with good joints) you put there.

zzzzzzzzzzzzz

Are we talking two $10K systems in comparison or not? Not specified, as the expensive cables are left nebulous. 
Systems comparable, i.e. MSRP or not? (i.e. $3K used vs. $10K new, or not?)
Floor standing speaker vs. bookshelf?
Analogue vs. digital?
Class D, older AB, etc? 
Mixed loom of cables vs. set of cables? 

These questions reveal the problem with the question; it is so general that it does not offer much benefit in answering it. Everyone has a purportedly great answer, and they all have marginal value. 

The only proper answer is that direct comparison would tell, despite the tendency of most to attempt to predict the outcome. 

OP - everyone's response likely has some merit, hence your question isn't going to result in a definitive answer. Like Mr. Schroeder says above, reframe the question more narrowly/precisely and you will get more useful answers.

My experience has been variable, but in my system/room, I come down on the side of spending more on gear rather than cables when your per unit cost is under 5K. My system is 25K total, about 10% of that is in cables and power conditioner. That 10% has become like a guideline for me (and that includes tweaks like isolation pads)... but as mentioned, there are more experienced industry folk in the more rarefied end of the hifi universe who might say 25% or more should be allocated to cables/conditioner/tweaks.