You'll be fine with carbon steel.
HSS maintains temper at elevated temperature….. Just don't be power tapping into 316 stainless.
Really decent HSS taps and dies (skf,dormer,presto,clarkson,osborn,europa etc) are much better, but mainly because more attention has been put into the grind.
Properly ground tools are better no matter carbon or HSS.
Watch out for badly ground taps and dies. Often you will find that cheap carbon taps and dies have barely been ground. Sometimes you can even improve them yourself with a Dremel. I'd say that's a last resort though.
Really cheap taps and dies from China can be unusable, so watch out for those. Usually they come in sets but the button dies aren't split. There's nothing wrong with dienuts as such, but if you see a set where you would expect split dies and they aren't. Give it a wide berth.
Generally you get what you pay for.
P.S. Older is sometimes better. Older taps and dies were often just made better than their modern carbon steel brothers. If they're not actually worn, you might find old, second or third hand, is better than brand new. – Especially in imperial sizes.
Edited By Andy Ash on 27/11/2016 23:31:47