All very good questions B_limo, and you will get many varied responses I think. From my personal experience, I always felt that running a single run of the best cable I could afford was a better way to go than to split my cable budget in half to bi-wire.
That being said, I am currently bi-wiring again right now, mostly because my current speaker manufacturer recommends bi-wiring. To be honest, I can't really say that it is an improvement. To be fair, I haven't directly compared my bi-wire run of speaker cable to the same manufacturer/model single wire run. So while I have heard differences with the newer cables, my guess is that is more due to the different cable materials and design than it is to the bi-wiring methodology. The differences I have heard have been split into positive and negative differences.
That being said, I am currently bi-wiring again right now, mostly because my current speaker manufacturer recommends bi-wiring. To be honest, I can't really say that it is an improvement. To be fair, I haven't directly compared my bi-wire run of speaker cable to the same manufacturer/model single wire run. So while I have heard differences with the newer cables, my guess is that is more due to the different cable materials and design than it is to the bi-wiring methodology. The differences I have heard have been split into positive and negative differences.