In all honestly, 8,9,10 heck even 12 dollars a pick isn't expensive considering what goes into making a quality tool.
You have to pay to play. If you want good tools, you pay good money. This concept applies to life in general... that cheaper car might be more appealing... until it costs you 10x more than the more expensive car because someone cut corners.
Are Peterson's or any other quality lock pick worth it? You tell me.