Google is a wonderful tool. Here is a review http://wvangler.websitetoolbox.com/post?id=5025987 which sums up the problems often found with cheaper vises made elsewhere than USA or Europe. I bet the Terra is made in India (or similar).
In my experience the quality of steel in the jaws and quality control in general is just not adequate in the knock-offs. The jaws on your current vise are possibly worn out because it is a knock-off.
Check out the thread currently running on this BB, http://www.flyanglersonline.com/bb/showthread.php?43996-Vise-advice-please , for a number of excellent reviews and suggestions.
I have two Griffins and a Danvise (mostly using the Danvise). If you don't wish/need rotary you can get a Griffin for $50-$60 that will last the rest of your life and their service is excellent. Just spend enough that you don't have to compromise as in the Terra review. Good luck.