I can tell you that Tice Audio is a highly reputable company, and that George Tice is a wonderful person to deal with. As with many high-end companies, Tice Audio is a small operation with about 6 employees, so there is a lot of pride in the workmanship that goes into their products. To give a generic recommendation or endorsement for their cables over the broad universe of other choices out there without knowing the details of your system and listening environment would be foolhardy. Yet, I do agree with your friend's basic premise that the Tice cables (to my ears, at least) do offer a very high value as compared to most other cables in their price range. This is especially true if you're looking for a "neutral" sounding cable - i.e., a cable that does not draw undue attention to itself or add any significant coloration to your system's sound.
My personal experience: I've used a pair of Tice bi-wired 416A speaker cables for some time and find that they mate well with anything I've thrown at them. This includes Newform Resarch R645's (which have a ribbon hybrid design) as well as Martin Logan Aerius (electrostatic design) and Talon Khorus (dynamic design). For the Khorus, I prefer using Kimber Kable 8TC, and for the Martin Logans, I prefer using Monster Cable 2.4s, but the Tice 416A cables are a perfect choice for my Newforms. So what does this tell you? In my opinion, Tice 416A speakers cables work fairly well with nearly all speaker designs because they are so neutral - yet, by doing comparisons to similarly priced cables, I've found that it's very system (and speaker) dependent, so it's hard to generalize.
I've also used Tice interconnects with good results (this includes a 25' balanced pair of IC 1A as well as several shorter runs of IC 1A that are not balanced) but have not done any close comparisons to other interconnects. I have not used the Tice infinite speed power cords, mostly because I'm so happy with the Virtual Dynamics Power 3 cords, which are a great value.
In my HT system, I use the Tice Power Block III C (HP version) which is their flagship line conditioner, and I also use a Tice Solo A/V line conditioner in a smaller system. I find that the Tice TPT treatment process has some intangible, but definitely noticeable effect, especially in video quality.
You can learn more about the company and their products by visiting their website, or by reading what others have said about their cables and line conditioners. Do some general searches on Google and in the archives here at A'gon, and then take it from there.
One final point. When buying cables of any kind, always, always, buy used! It's hard to mess them up so the used ones are as good as the new ones and half the price! Plus it keeps the A'gon sellers happy...