I've found that HL fabrics are slightly better than JAF. That said, they're definitely not the same quality as LQS fabric. I would always get excited when I would see nice brands like RK or RJR at a big box until I read somewhere that usually the designer fabrics that end up at the big box stores end up there because they were wound wrong or there was a small deviation in the dye lot or such. I have indeed found that the ones I've looked at/bought require as much as 4" cut off due to being wound wrong. I usually only lose 1-2" when I buy it at the LQS.
That said, I have no problem making charity quilts or small projects for family/friends out of their fabrics. They're not heirloom quality, so I would never buy them if I planned to put a lot of work into a quilt (needle turn applique, intricate quilting, sending out to LA) but they have their purpose.
Also, HL has their 40% off coupons available on their website, so if you ever forget to bring a coupon, you can download it right to your smart phone & they accept it.