Can you tell the difference between a $200 and a $200,000 guitar?

Just don't give the expensive one to Kurt Russell.

Fun….. thanks for sharing…. always good to have luthier friends…… 

Just like great music on a boom box bests muzak on a million dollar rig?

An accomplished musician with a "cheap" instrument will hold your attention over a poser with an expensive one.

Presence - how responsive/resonant sound is in normal playing
Projection - how much louder it gets when played hard
Sustain - how long the note decays
Separation - chord clarity, individual notes vs sound blob
Tone - related to tone woods used

Sound of guitar is subjective, but you wouldn’t pick poor sustain guitar, unless you play Flamenco (for this projection would be the most important).

It depends on who's playing the guitar.