I would say that they are not created equally. Most wrenches will have a tolerance marked on them indicating how accurate they are within certain torque ranges. There are also different styles like the ones with a beam pointer, the ones with an internal spring, and I'm sure there are other mechanisms. I bought the Craftsman Microtork torque wrenches, 3/8" and 1/2" drive, about eight years ago... I think that they were about $69 and $89 back then. The guy at Sears told me to always set them back to zero when I'm done with them to take tension off of the internal spring mechanism. So far, they seem to be as good as new, but I do want to have them calibrated soon or maybe just compare them to a neighbor's expensive new Snap-On wrenches.
Good luck!
~Doozi