I've torn the heck out of a few pairs of those cheap P-line pliers. The cutter blades have fallen off, the jaws have bent on hooks, etc. I won't buy another.
My favorite pair still isn't great--a Mustad/KVD stainless plier that I got as a bonus from a Charkbait order. The rubber grips fell off almost immediately, but the cutters have stood up to abuse, and they have proven extremely corrosion resistant.
The key to not throwing pliers overboard is to keep them on a belt alongside a knife, on a tether. During rockfish rodeo or wide open tuna bite, even if someone else borrows them, they can just drop them and they'll still be tethered to you. I can't imagine fishing a hot bite without my knife and pliers (spike or club and a line cutter for extra credit) on my Grunden's elastic belt.