E3d is pretty much the best upgrade I've done to my machine. Even more crucial than bearings. It made a world of difference. A lot of folks fight it at first (I did buy a replacement stock hotend...) but once you put it on there you don't even recognize your machine anymore. For the first time, you witness what it's like for your extruder and hotend to precisely obey the GCode. It's nothing short of beautiful in my mind.
Prior to having a good hotend, I don't think it's a stretch to say you have no idea what a good print REALLY looks like. Just my opinion. 80 dollars is a cheap upgrade for this hobby. I've spent far more on bearings, fasteners, tools and other parts, and I'd still say the e3d made the biggest difference despite being the cheapest possible upgrade.
The next most important factor is using high quality filament...