You could buy last year's model car too, and save big over this year's model. But if this year's model has better gas-mileage and you intend to keep the car for awhile you'll piss away the up front savings in extra running costs. Same w/ AC. Gonna turn over the house for a quick profit? Buy cheap, 'cause the next owner will be paying running costs. Staying indefinitely, efficiency, proper sizing and quality construction will still pay off long after you made up the extra cost. You don't think hydro's going down do yo?
A unit that burn out from cycling too often, as mentioned above, is too big for the job, has too sensitive a thermostat, is in a house that needs better insulation and sealing. Or was just plain low quality. Has nothing to do with getting the job done using lowest energy. That's efficiency, which is what SEER is supposed to quantify as a number.
Unfortunately, there's no such rating for HVAC salesmen who's only concern is moving product. Subbing out to installers who make their buck by cutting corners doesn't help. Researching the company is the best time you'll spend.