Any registry is only as good as the breeder promoting it. I know that AKC is the 'cream of the crop' according to the masses, but that doesn't mean the dogs they are breeding and registering are.

You can have bad breeders, with unhealthy dogs that are poor representations of the breed with ANY registry.

I guess it also depends on the individual looking. I know some people who given a perfect dog with no registration vs a lesser dog with registration would take the registered dog any day.