There are certainly a lot of differences from one manufacturer to another. These can be reflected in feel of the cue, quality of the finish, technologies implemented in the cue, looks of the cue, etc...
It's true that a low deflection cue does cost a bit of money, and now "cheap" Predator is no longer that cheap (the cheap ones were replace), so you are deep into the high $300's for a new Predator (think $400 with tax at a minimum); their cues are really nice cues though. But there are other LD shaft makers, so you don't have to go the Predator route. OB is every bit is good as a Predator in LD (and I feel my OB classic is even better), yet they offer a few cues that are significantly cheaper than Predator's cheapest.
Lucasi also makes some under $200 LD cues, though I have not tried the LD one so can't speak to them; their regular cues are pretty darn good production sticks though, and I think Lucasi's sneaky pete is one of the best values in a cue for under $200.
It's hard to put together a guide on what cue to get. It really depends on your budget, your personal preferences, and what look you like (if you care about the looks of the cue at all), and what you want out of your cue. As a general rule of thumb, you can get some pretty darn good values in the 150 to 300 range for non-LD pool cues. 300 to 500 for LD cues. Above that you can get some good values, but value is a relative term. A Schon is a great value, but the cheapest ones aren't cheap.
The first step is set a hard budget... Think... I have x amount to spend on a cue, and no more. I will most likely spend the amount I decide, so must be comfortable spending that.
Then I'd decide, do I care about the looks of the cue, the type of wood, the design patterns, whether it has inlays, paint, decals, etc... At this point only you can decide what is best for you... This will complicate the decision, limit the number of cues that appeal to you, and cause the price range to vary greatly.
Decide if you want an LD shaft or not. It's most economical to buy a cue that is already LD, vs one that is standard now, and then buying an LD shaft later.... The latter is cheaper up front, but you'll spend an extra $100 for the priviledge of going LD. If you want to go LD, do it when you buy the new cue. You don't need an LD shaft to play effectively, but it does make life a litter easier in most cases.
As far as differences in cue makers; they differ greatly. It's not just about production vs. mom and pop. Viking is a high-volume production cue maker, and their fit and finish is good, the cues are very consistent, and they offer some level of customization. Then there are other high-volume cue makers that have crap for fit and finish, have not consistency, and don't customize.
Each maker offers it's own construction standards. Schon, uses metal joint collars in all their new cues (from what I've seen). Predator has some that are wood, some that are metal. OB has some that are metal and some that are plastic. Those joints can definitely alter how the cue feels, steel having a harder faster hit, and wood or plastic having a softer slower hit. Only you can decide which is your preference, but definitely make an educated descision here.
Wood selection/sourcing is another difference in cue makers. Some makers may have tighter selection criteria than others (wood species, age, storage, regional source, appearence). This is something that will also affect the cues feel but in a more often in a subtle way. You may not be as particular as some of the cue makers and players are though... For many, the materials selection from any of the well known cue brands is good enough for them, and they'll never know the difference from one to the other.
As a guide? I'd say it might be more effective find as many other players as you can who have different cues, ask to try them out and see which ones you like and which you don't. Taking recommendations from experienced players is fine if you can't test, but keep in mind at lot of good players don't understand much about cues, but just know what they like and what works for them... Nothing wrong with that, and that does not apply to all players. But I don't think you would go wrong with a Schon, Mezz, OB, Predator, or for less money a Lucasi, McDermott, or Viking (those aren't the only choices or quality brands, just what I've tried). You can get used to any one of those, but it's definitely better to know what you want before you pop down the $.
Once you do buy your new cue, keep in mind it will take a few weeks to a couple months of consistant play to get used to it. If something is just plain wrong, send it back. But if you are just not used to it, that will take time to overcome.
