Generally the hotter the ammo, the higher the pressure, the less accurate it's going to be. There's usually a point where you'll be on a power scale that will equate to best accuracy or best performance.
When I was younger (like 5 years ago lol) I wanted the hottest stuff in every caliber I could get. Back then I'd see what .40 could do with Corbon and Buffalo Bore from a carbine, it was basically on a level of .357 from a 6 inch revolver, and I all but had to change my drawers when I thought about 30 rds of .357 power level .40 in a Sub 2000 could do. Then I realized only the most premium and expensive ammo could do that and general .40 didn't get that much of a velocity boost in a rifle vs 9mm.
Same with .22, it was Velocitor that was most powerful, but CCI Standard was more accurate.. and much cheaper.
I guess what I came to learn is if I want power, I buy a bigger, more powerful caliber/cartridge and a gun that shoots it. A lot of 9mm diehards will say if they want more power they use +P+ and that can work to an extent, but it's not going to beat a warm 10mm. Ammo capacity, okay, sure 9mm holds more, but how much more? 2 rounds? BFD, I can drop a mag and reload in seconds, the mag capacity argument for semi autos is dead IMO, unless you're talking .45 and 9mm, at that point 4 or 5 or 7 rounds is enough to be a difference maker, but 2 or 3 is not.
If I want a lower power and/or lower recoil I'll see if I can load down a .32 to get .22 LR power levels or 10mm down to 9mm levels; it's easy to load down for decreased power and get good accuracy, it's difficult to increase power and still maintain acceptable accuracy.
Price is still a factor for me, I'm not willing to spend $1 a round on a mainstream JHP factory ammo, or as Paul Harrell puts it "hyper ammo." I'll do it for something that struggles due to low velocity and bullet weight, stuff like .380, .32 ACP (I would say all .32's, but the .32 revolvers are so limited in ammo your only options are mainstream/premium ammo), but stuff for the big three calibers, 9/40/45, if it's Winchester or Remington or Fiocchi, it's generally a hollow point that works.
For FMJ ammo, I buy whatever is cheapest and most accurate. PPU always seems to deliver here.
For handloading, it depends on what I want. If it's 10mm, I want it hot, if it's .45 Colt I want it effective and if 900 fps does the job and is accurate, I'll take it. If it's .32, it depends on the application. Small game I want it low power, medium game I want it warm, self defense I want it hot, deer I want it at max power and accuracy.
So, I guess my answer is price is always a factor, but I want my ammo to do the task I want it to do. If the task calls for hot stuff and I have to pay the price in powder and bullets to do that, fine. If I can get acceptable performance for the lowest price, I'm happy with that too.