I have both premium and non-premium denim. My premium denim jeans tend to get more love and more wear.
But it depends. Ultimately -- it's about fit and fabrication. Sometimes you can find a superb fit and great fabric at a lower price point -- if you are lucky. My white Kut from the Kloth Diana skinnies are one example. Style Fan, if you tried one pair of Kuts, you have not necessarily tried all pairs. They change the fabrication often. My white Dianas are an entirely different animal from my dark plaid Mias, which are again a different beast from my lighter plaid Mias. It pays to try, try, try again.
When it comes to the premiums, I get my money's worth. My CoH Racer jeans are among my most worn wardrobe items and are now at pennies a wear. Why? Because they make me feel like a million bucks. They fit smoothly, flatter, don't bag out in an unpleasant way, the wash is just right, etc. etc. I'm trying a mid-rise version of a CoH skinny this season to see if I like it as well.
I feel similarly about my Rag and Bone Dre slim fit BF jeans. They're the perfect "jean of that type." I also love my slightly baggier, slightly more swaggery True Religion Cameron BF jean. All cotton -- feels great.
For me, it makes sense to buy premium denim if the fit and flattery is better because denim is my uniform in the fall/ winter/ spring months. I wear jeans almost every day. Why wouldn't I wear the best and most comfortable and flattering that I can afford? If I only wore denim occasionally, I am not sure it would be worth it to me.
I buy my premium denim almost exclusively on sale, so have paid about $150- $170 Canadian for my jeans. Again, for me, it's absolutely worth that price, considering that I would pay about $90 for BR jeans (some of which I also really like, by the way).