It counts for a lot, but is only part of the equation, as you should know.
Performance is far more than engine design or operation.
And Wayne has pointed that out quite well.
So those posting that feel so conclusively that a piston turbo isn't worth it in any flight profile, then why do you suppose they are selling so well?
Cirrus SR22T, SR22TN
Beech G36 (announced a factory turbo version) TAT conversion is very popular
Beech G58 (announced a factory turbo version)
Cessna 400, T182T, T206H
Etc.
Any answer works for me except the world is full of stupid people with $500K-2M to spend on a piston aircraft.
I think there are a few factors here, with marketing being the biggest one.
"The turbo version is turbocharged! You can fly higher and faster!"
The local SR22 turbo pilot asked me what's the point in having a turbo if you only fly it at 65% power? Of course, at 1200 SMOH he's on his second top overhaul of his TSIO-550 running 86% power cruise, but he's making his turbos work and earn their keep. Marketing these days is saying that's ok to do, and if you like buying cylinders, then that's fine.
Those of us who understand what makes engines last a long time realize that 86% power is a terrible cruise point won't see as much speed benefit as those who are ignorant (or apathetic) on this point.
I'd also point out that modern turbo installations have a number of benefits over older ones. Wayne's T210 was basically a turbo bolted onto an engine. No intercooling. Most modern turbo installations have intercoolers, which make a significant improvement in altitude performance in most cases. The add-on or upgraded intercoolers available for the Navajo, 340, 414, Duke, etc. happen to be one of the few upgrades out there that provide exactly the benefits stated.
Turbos also are very nice to have in any form once you get used to them. Wayne is being very practical with his points, but also has pointed out that he liked having his T210, just the point that it wasn't faster on the whole. I think the buyers of modern piston aircraft are buying them as tools more than as toys, and as such if they can afford to spend $700k on a Cirrus, what's the extra $50k or so for the turbo version? The cost increase is comparatively small, and if you can afford to spend that much money on that plane, then the added MX is probably irrelevant. You can buy a King Air 200 for that price.
To me, the key to a turbo plane is one that is properly implemented and utilized.
The exhaust system parts can be "rebuilt" ore "overhauled" by a good exhaust shop.
Turbo engines are probably one of the best examples of when to not cheap out on the overhaul. Get a factory overhaul, or else insist on a new exhaust - not rebuilt. I have seen more problems with people who cheap out on the turbo exhausts than anywhere else.
If your exhaust needs to be repaired, just buy a new piece or a whole new exhaust system. It will end up saving you money in the long run most of the time.