A point that hasn't been addressed: In what price point are you shopping? That makes a difference in what's expected in a house.
I live in a middle-class house; it's a large solid brick ranch on a full acre, and though the rooms are huge and comfortable, it's not a new, stylish house, and it's in an established middle-class neighborhood. No neighborhood pool, no tennis courts. It's the kind of house in which one expects to find laminate and carpet on the floor, laminate or tile on the countertops, and other middle-of-the-road finishes. If I installed hardwood flooring, granite countertops, etc., I would never get the money back -- if I did these things, I'd be over-improving the house.
Anyone who watches HGTV, however, will tell you that buyers are rather stupid about imagining changes. How many people do you see on those shows who comments on how much they love the furniture, etc.? Most people don't seem to have the vision to imagine changes in a house, and many first-time buyers don't have the capital with which to make those changes.
I'm solidly in the camp of "Change it, even if it's an inexpensive grade of material".