Yes. Although essentially the $150 Chinese (You can rest assured it's probably assembled by well paid, well sheltered chinese children) and HKS one (made by Japanese children) are both bar and plate, the internal design will differ.
This is a picture I took of the internal design of my Ebay intercooler I purchased from CXRacing. Note the vertical surfaces that can create backpressure. I noticed after installing my FMIC that I know longer had the same "response" that my stock SMIC provided. This of course was probably as a result of a higher volume of air when compared to the SMIC. My T25 now makes full boost at around 2900rpm.
Now check out the design of the HKS Type-S intercooler. It's easy to see the quality difference between the two. Also noticed the density of the fins when compared to the Ebay unit.
You certainly get what you paid for and I would love to see an actually temperature comparison of different brands.
Check out
http://www.max-boost.co.uk/max...E.htm for more information.