I think I would be worried about putting a £20 crash helmet on my head.
Mind you, at LeMans last year I think I saw crash helmets for sale for 20 Euros.
as far as i know, they still have to go through the same safety tests to meet the EU regulations no matter how much they cost, so i would'nt be too worried, just the pricier ones are usually quiter/look more pretty/branded/maybe more comfortable.
The lid i'm using now, i've had for almost two years, cost me £35, its nice and light and comfortable, personallly i cant see how people can justify paying £200+ for a lid 
oh BTW i've had two offs with that lid and it did its job
Your viewpoint is a common one. The helmets all have to meet the same standards yes, but that doesn't mean that some are not better (safer) than others. Of course if some are safer than others it doesn't necessarily mean that more expensive helmets are safer. But is it reasonable to assume that something very cheap is more or less safe?
It's the reason why the government have launched the SHARP rating system http://sharp.direct.gov.uk/
When the same £20 B-Square helmets are worn by top racers I'll believe that they are as good as the rest.
BTW, it's not the small offs that matter, it's the big ones that will test a helmet's abilities. (Although I wouldn't personally reuse a helmet that has hit the deck anyway, and at £20 a time it makes even less sense).
As for spending £200 as opposed to £35 on a lid. Personally I have £8000 ish invested in bikes, well in excess of £1000 spent on clothing (probably nearer £2000), £200 on a helmet every three to four years is relatively insignificant.

"This vehicle has remarkable power and should be used gradually and with maximum caution." - Aprilia
Edited: 18/03/2008 at 10:42