I have a Bluestar rangetop (i.e. just the stovetop, not the oven) and love it. But rather than think about fancy vs plain jane, think about the features that you care about. Do you care more about ease of clean up, ability to get higher heat for stir frying, looks, etc? For most people, the quality of the stovetop and oven will have very little effect, if any, on the quality of food.
One advantage of some higher-end brands, such as Bluestar, is that you can get open burners. These allow for a slightly higher BTU (which is good for boiling water faster and stir frying over very high heat). Most people, though, have closed burners and aren't any worse off. I also find open burners easier to clean. If something boils over, the liquid just falls through the stove onto a drip tray.
Another issue is the distribution of BTU across the burners. For example, my stove has two very high heat burners in the front and a medium and low heat burner in the back. This is pretty typical, but if you do a lot of stir frying (or boiling water) you probably want to avoid stoves that have a more even distribution of BTU across the burners. Similarly, if you make a lot of delicate sauces or rice, you may want a really good low-heat burner.
One thing that I love about the Bluestar is that the entire top is cast iron and comes apart really easily. This makes it really easy to clean. It also looks great and doesn't show any grime. It's also really versatile. You can turn burner grate upside down to increase the distance between the flame and the pot (which is good when you want really low heat). You can also remove a grate, which allows a fully rounded wok to sit right on top of the flame. The Bluestar website has some videos, if I recall, that demonstrate all of this.
Similarly, think about features for the oven. Do you want convection? Do you want low heat (for proofing bread dough, heating plates, or keeping food warm)? Etc.
Don't think of the hood as necessary with the Bluestar but not with the plain jane. The hood is useful for both. The Bluestar may have slightly higher BTU than the plain jane stove, but as a practical matter you'll be putting out the same amount of heat, smoke, smells, and oils with both units. The hood is there to trap and remove that. Yes, buying and installing a decent hood can be expensive. It might be worth getting some price quotes for installation services. What's the kitchen like when you stir fry? If you buy a hood, make sure it is 6" wider than the stovetop. i.e. if you buy a 30" stovetop, get a 36" hood so that the whole stove is covered by the vent.
I bought my stovetop at Abt. They have great prices and great customer service. The only issue is that they don't (or didn't when I bought) stock Bluestars in the showroom.