Well like Shall36 I rarely use TW's on repairs. I was taught in detail by my dad how to not strip threads and have learned with a lot experience how much torque different sized fasteners in various applications need - by feel and hand. Some may say well you can't do this and have a properly repaired vehicle. Well, with a LOT of experience you can But if you lack a mentor or experience, the torque wrench is your friend. It will keep you from stripping out fasteners. You don't tighten until it doesn't turn anymore, that's the breaking point. The idea is that you slightly stretch the steel to make the fastener hold tight.
While I've never had anything work loose, with the exception of wheels (rolling my eyes at embarrassment). For wheels, a torque wrench is a darn good idea, as I usually over tighten to make sure its not coming off before we want it to.
Yes, cheap tools can be decent for a while, I have a bunch of HF and Northern stuff to be honest. But I got tired loose fits, sockets falling off, wrenches bending, etc. yea, the $10 full socket set is appealing, but when you eventually replace it with Craftsman or similar, its actually extra money. And on Ebay you can score Craftsman really cheap, so I'm doing that now, but have duplicates now.
Smallish 3 drawer tool box and a top tray job for larger stuff, that's all I use for most things, and I'm a mechanic on a small race team and this setup has nearly everything I need, without bringing a whole rolling tool box.
It costs diagnostic fee just to roll your oddy in the shop. You can get a nice basic set for sears for the same price!
To answer your question, stick to a reputable brand. Protect it and follow instructions - unload tension spring in many is require when not in use.
I have a 1/2" Sears old school torsion arm job, and a new 3/8" sears clicker type. Bothhave advantages. The torsion bar job is probbaly never going to need calibration. Biggest problem with TW is that they are too big to fit into many spots where you need 'em. So you develop a feel for what is "tight" on like 12-14mm nuts you can almost feel the wratchet bend ever so slightly when you are getting it to torque. Increase that for 15-19 and add even more for 20+. Yes, a X wrench is perfect for lug nuts. I use one instead of my air gun so I don't over-do it. I feel when the X wrench starts to bend, give it a bit more and that's enough for my applications. If you have rust that may require more, but best really to clean the rust first with a wire brush or dremel...