When I first started quilting, I was surprised when one of the ladies at the LQS told me there were better threads. I had always just assumed thread was thread. I switched to machine piecing with Gutermann cotton and suddenly I had virtually no thread breakage or any of the other issues I was used to dealing with on my DSM. So I would say that in general, you will get better results with a better thread.
I have been experimenting with thread recently, and I find the differences fascinating. Aurifil comes in several weights, and they recommend the 40 wt for machine quilting and hand piecing, and the 50 wt for machine piecing and applique. Their thread is very fine and soft. I prefer the idea of doing FMQ with a 3-ply thread, so I plan on sticking with Superior and Presencia 40 wt for FMQ. So far I have just used Superior King Tut for FMQ and am happy with the results.
The Presencia 50 wt. for machine piecing seems extremely strong, and looks lots thicker than the Gutermann 50 wt. The Gutermann for hand quilting is very wiry, whereas the Aurifil 28 wt. for hand quilting is soft.