I have a cheap metric set, and I would say it is of similar ilk to the set Andrew condemned. I would not class the set I'm recommending as being in the same category at all.For my own piece of mind I've just gone and checked the fit of some of the threads I've made using them, and they are all good close fits with commercial screws and nuts.
Don't forget industry uses metric taps and dies by the hundreds of thousands, if not millions. They don't have time to waste on adjustable dies. I am sure these 'cheap' sets are just a small stream 'tapped off' from the huge flow to industry and that this is why the price is hugely lower than ME, BA or Whitworth taps.
Just avoid the very cheap carbon steel sets with only 1 or 2 taps in each size – these are NOT used by big industry and are much less well finished.
Neil