To some extent. For audio, I don’t really have to much experience with expensive headphones/earbuds but I do notice a difference. I still usually go with cheaper headphones though because the difference in audio quality and durability aren’t really enough to justify the price difference.
For visuals in games, I do prefer to have the best experience but what settings I use depends on the game. There are some settings that are universal to me, like for example, if anti-aliasing is available, I always have it set to 2x (or 1.5x if the game has it) because every option for anti-aliasing in every game I’ve tried looks exactly the same to me, so going higher is just a waste of system resources. For similar reasons, while both of my monitors support higher resolutions, I still prefer to use 720/768p.
I think the only time I really don’t care about visual quality, is just when I’m watching videos online.