Your questions are sort of assuming that the "premium" cables actually do perform better than the basic ones. In almost all cases this is not true.
Expensive cables might have fancier connectors and a thicker jacket, but that's about it.
You are correct that with HDMI (or DVI for that matter) lost or corrupted packets aren't re-sent. There literally isn't time. There is error detection in these protocols but no provision for correction. TV or monitor can detect the bad packets and ignore them but there's no erorr correction in the data that's sent, nor is there any sort of response back to the sender to ask for a retransmission.
Later: To the person below - I don't think so. If you'll web search for the terms "error correction" and HDMI you'll find a huge number of sites stating that there is none, at least for the video.
The video in DVI/HDMI is sent via TDMS, and the DVI spec clearly states
"There is no requirement for error handling over the T.M.D.S. link"
(page 31, http://www.ddwg.org/lib/dvi_10.pdf )
and that is the only place the word "error" appears in the entire document.
TMDS as used by DVI/HDMI does use 8-into-10 encoding (similar to CD-DA's eight-to-fourteen modulation) for the video data, and this permits error detection, but is not sufficient redundancy for error correction.
There are ECC bits in HDMI in the "data island period" but these do not apply to the video, only to the data (such as audio) within the data island period.
If you still disagree I would appreciate seeing a reference.