HDMI is really bad design, and due to its DVI legacy they've pushed the up against the limits of what is possible. Right up against the limit.
1) it's twisted pair technology instead of coax 2) it's parallel instead of serial 3) it's very fast (10.2 Gbps)
If you just spent money on a new 7.1 AVR, and a Deep Color Blu-ray player then you'll be needing cables that have been manufactured and tested to a highest HDMI 1.3 standard. Resistance, skin effect, impedance, capacitance, cross talk and inductance all conspire to disrupt the data and since it's digital, you will be left staring at a black screen or hearing pops and audio dropouts. This kind of quality control is not cheap, and is much more than a simple continuity check on each line within the bundle.
I've tested some really expensive HDMI cables and seen what is possible with them. I've ignored the "Direction of Flow" arrows on some long lengths and had them fail, reversed the cables and had it work. There is real engineering that goes into these things, and that is what you are paying for.
So for short lengths (3-6') the cheapest HDMI cable might be good enough, and you will probably be happy. But I'd still be looking for the HDMI 1.3 logo on the package, at least then you can be sure it has been tested against the upper ends of the spec.