Yes, there is a difference between cheap and expensive glass, but it's not critical sharpness. A nice Zeiss lens will also be very resistant to flare, show little chromatic aberration, pleasing bokeh, it's famous micro-contrast, etc.
I am basically looking to pickup a wide angle fast(2.8 or faster) lens for video and wanted to know if those vintage primes are capable of producing better quality images for video.
I don't see why not, as long as you stick to multi-coated lenses (usually labelled "MC" on older lenses) you should be fine.
I have been looking at some Pentax lenses, but all of the non 50mm lenses seemed to have gone up in price significantly.
At my local market, I can pick up a 135mm SMC takumar f/3.5 for $50, less for the non-MC version. Razor sharp as hell, immune to flare, no CA... but I didn't feel like I needed it. F/3.5 and a minimum focus distance of 1.5m leave something to be desired, but an all-around good lens otherwise. You really have to scrounge for these things.