Agree with most of the other posts here. Some of the cheaper faucets I've come across have these miserable plastic valves that set you back $15 a pop and last only a year until they break. Then it either jams or water starts dripping.
That said, an Ikea faucet I got on sale for $20 five years ago still works like it did on day one. In fact, I got two more while it was still on sale, fearing it would break like the other cheap ones, but they're still sitting in their boxes under the sink.