[quote name='Apossum']Yeah. I'm totally kicking myself for buying a $6 monoprice cable, because ARTIFACTS are everywhere, completely ruining my game. I should've listened to the Best Buy employee...

[/quote]
Did you read that at all? It doesn't matter for short cables.
And, I OWN A MONOPRICE CABLE.
Read this then.
http://digitaltvdesignline.com/showArticle.jhtml?printableArticle=true&articleId=199900985
" d) If your cable can't deliver this bandwidth, you'll still get a picture, but with obvious picture artifacts (flaws). "
This isn't an all-or-nothing thing unless the flaw occurs in the HDCP loops of the wave. If a few 0s and 1s cause picture or audio artifacts, then you will see noticable artifacts on your HDTV.
A good way to see this is, if you have a monitor capable of QXGA or w/e it's called (2048x1***), find the longest and cheapest cable. Run a 10-bit signal through it at whatever refresh rate you want, and make the picture just a solid pattern or color. You can try a video if you want.
Of course, HDMI/DVI can't handle that resolution at all. That's why they have dual link DVI (more bandwidth). Please, If you care to read, then read those two links I provided. Common misinterpretation of digital signals are that you get the whole thing or nothing. That is false. Most of the time artifacts will be too small to notice, but if you're looking for them and using cheap-long cables, you'll see them. Even at 60Hz 8-bit 1080p (what the cable is meant for, the current-times HDMI).