I have Egyptian cotton bedlinen with 1000 thread count, and 1600. (Yes, very heavy! But I love it!) It feels gorgeous - especially the 1000, which is older and so has been washed more frequently. After, um, about seven years, there is absolutely no sign of wear, or bobbling, and I generally wash at 60 or even 90 degrees, spin at 1600rpm.
However, it takes ages to dry and is a real PITA in a tumble drier; I'm not one for ironing but most of the creases fall out once it's on the bed, because it's heavy.
I expect both sets to outlive me (but then, I'm pushing 50.
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I also have 200 and 400 thread count bedlinen, the 200 is very light, the 400 slightly heavier, and the 400 is the worst for creasing imvho. Haven't tried 600 or 800, but love my 1000s.
I buy from King of Cotton and have generally found their service pretty damn good. :)