In general, experience is superior to equipment, but that doesn't diminish the importance of equipment. High end equipment will ultimately help you catch more fish compared to low end equipment. Of course, there's diminishing returns so you have to ask yourself if its worth it.
To answer the original poster's question, I suspect it would turn out something like this:
Suppose you caught 100 fish over the summer (Using round number for the sake of argument) using a stella/nrx combo. If you would have used the following combos instead, you would have caught approximately:
stella/nrx: 100
stradic/avid: 97
sahara/mojo: 90
walmart spiderman pole: 35
A lot of the people who think that high end equipment doesn't matter usually make comments like "I can outfish my friend who uses high end gear with my low end gear" or "I know someone who wins tournaments with low end gear against others with high end gear". If you're thinking this, then you're not asking the right question. The question you should be asking is "would you be able to outfish yourself, if you used low end gear and the other you used high end gear?" Imagine you using the spiderman fishing pole from walmart competing against another you using a stella/nrx combo. Who do you think wins?